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The cent has been expected to fulfil speculation made by regional and international equity markets for some time now.
A currency bucking the recessional trend is the Australian dollar, which finally levelled out today, closing just half-a-cent higher than its America counterpart. However, this came as no surprise. The cent has been expected to fulfil speculation made by regional and international equity markets for some time now.The Australian dollar closed on a trading positive of 65.20 US cents, which was a rise of 48 cents from Thursday.
The Oz Forex manager, Jim Vrondas, had this to say: The market was a bit disappointed with how we finished here, obviously, with our (stock) market being up three per cent, and the Aussie hasn't really followed through with it. But weve had a very good run up already, especially in the last couple of days and it's only natural that in this environment the Aussie would plateau at some point.