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Article: FOREX - AUSTRALIAN DOLLAR ENDS LOWER - DEC 2, 2004.
- Article from:
- AsiaPulse News
- Article date:
- December 2, 2004
CopyrightCOPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SYDNEY, Dec 2 Asia Pulse - The Australian dollar recovered lost ground today to close firmer as the US dollar resumed its downward drift.
At 1700 AEDT the local unit was trading at $US0.7804/08 compared to 0.7764/67 at yesterday's close.
Since the open it has traded in a $US0.7755 to 0.7816 range after falling below 0.7700 in offshore trading.
AMP Capital Investors manager foreign exchange Chris Loong said the Australian dollar had recovered significantly from the overnight lows.
He said the local unit was initially lower on the back of some corporate undertakings which had resulted in the selling of Australian dollars relative to the ...