Australian Dollar: The Australian Dollar opens on Monday at 0.8995 after a surprise rate raise in the United States last Friday (local time) sent the greenback soaring against several major currencies. The Aussie lost a cent in quick fashion trading as low as 0.8877 after the U.S. Federal Reserve hiked the discount rate by 25 basis points to 0.75 per cent. However, the local unit recaptured most its losses throughout the offshore session climbing to 0.8988 after U.S. inflation data for January was tamer than economists forecasts, increasing 0.2 per cent for a fifth straight month.
- I expect a range today in the AUD/USD rate of 0.8960 to 0.9040
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