Business Services Industry
$A in friendly surroundings, for now.
Australasian Business Intelligence, July, 2007
Byline: Corinne Lim
Jul 05, 2007 (The Australian Financial Review - ABIX via COMTEX) -- The Australian dollar was steady at $US0.8575 on 5 July 2007, having peaked at an 18-year high of $US0.8599 several days earlier. Greg Gibbs of ABN Amro says his firm expects the currency to test the $US0.90 level in the near-term, although he says a pullback is likely in the longer term. Carry trade activity has been a primary driver of the Australian dollar's rise in 2007, and this investment strategy is likely to remain popular given the global economic outlook.
Publication Date: 6 July 2007
ABN AMRO AUSTRALIA LIMITED
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