Thursday, April 23, 2009

Westpac advises to sell Australian Dollar

Australian dollar continues to attempt to climb higher, given the strong demand for it from the major offshore banks, as well as talk that the second-largest brewery Australia Lion Nathan, whose capitalization of about A $ 4.5 billion, was offered for the purchase of Japan's Kirin Holdings, but has not been able to overcome a pair of Ofer $ 0.7090/95, and it now holds in the region of $ 0.7077. Currency strategists Westpac, commenting on the current market situation, note that in the near future of the Australian currency is expected to continue trading band, but they would not have been ruled out attempts to growth, but the latter, they say, is used to open short positions with a the decline in direction of $ 0.68. The bank questioned the sustainability of improvements in mood of investors and note that any good news, which may contain the results of stress tests of American banks may have been taken into account by the market.

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