As rate rise chances sink, so does the $A.

Australasian Business Intelligence,  August, 2006  

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Byline: Matthew Coghlan

Aug 30, 2006 (The Australian Financial Review - ABIX via COMTEX) -- New consumer confidence data depressed the Australian dollar on 30 August 2006. It emerged that retail sales grew by just 0.6% in July, even before the Reserve Bank of Australia frightened consumers with its early August interest rate rise. The July sales figure, 0.4% below June growth, was not offset by news of increased construction project completions. Believing that a further interest rate rise in 2006 is now even less likely, investors sold the Australian dollar. The currency ...

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