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The Australian Dollar
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Since hitting a low of $US0.5530 on 28 August, the AUD has recovered by over 17% to a high of $US0.6480 on 19 November. Several factors have been at work to boost the A$ against the $US over this time.
ยท The RBA supported the A$ in late August-early September, as documented in the Semi-annual Statement of Monetary Policy (Nov 17, 1998).
ยท A sha ....
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....n and (4) the prospects for interest rates.
Despite some success in diversifying the export base away from near complete reliance on primary commodities, Australia remains one of the world's most commodity dependant economies, and hence the term "commodity currency" for the A$,. Recent data confirms that primary products account for around half of.... |
| Word count: 615 |
Page count: 3 |
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