AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
SYDNEY, Sept 1 Asia Pulse - The Australian dollar is stronger at midday continuing to hold on to its overnight gains, despite an initial reaction to a softer headline GDP number for the June quarter.
At 1200 AEST the local currency was trading at $US0.7053/58, compared with 0.7005/09 at yesterday's close.
In the morning session it reached a low of $US0.7035 and a high of 0.7063 after touching 0.7077 in offshore trading.
The Australian dollar opened strongly after profit takers sent the US dollar lower overnight, following the release of softer than expected PMI data.
The Australian Bureau of Statistics today reported gross domestic product (GDP) for the June quarter rose by an adjusted 0.6 per cent in the June quarter - slightly softer than market expectations of around 0.9 per cent.
However, the March quarter GDP was upwardly revised to an increase of 0.5 per cent.
...