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FOREX - AUSTRALIAN DOLLAR OPENS STRONGER - APRIL 2, 2007.

AsiaPulse News

| April 02, 2007 | COPYRIGHT 2007 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)Copyright

SYDNEY, April 2 Asia Pulse - The Australian dollar opened stronger at the key 81 US cent level, as new US tariffs on Chinese coated paper sparked worries of a trade war.

At 0700 AEST, the domestic unit was trading at $US0.8100 05, up from Friday's close of 0.8074/80.

Over the weekend it traded between a low of $US0.8058 and a high of 0.8126 during the day.

The Australian dollar powered above 81 cents after close on Friday amid concern that new US tariffs on coated paper imported from China and used in glossy magazines may spark a wider trade war, ICAP chief economist Michael Thomas said.

"The backlash against the protectionism as seen in the tariff increase ... sent the ...

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Source: HighBeam Research, FOREX - AUSTRALIAN DOLLAR OPENS STRONGER - APRIL 2, 2007.

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