AUD Trading Outlook (12-02-2013)
Australian Dollar (AUD) the AUD was weak from the open and fell to fresh lows as EUR/AUD buying resumed in mass. 1.0250 has held strong so far on two attempts in Asia but the trend will be hard to reverse given the deteriorating Australian outlook and the large long positions built up in the market over the past few years. Update January Business Confidence at 3 unchanged.
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