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COPYRIGHT 2007 Asia Pulse Pty Ltd
SYDNEY, Dec 31 Asia Pulse - The Australian dollar was stronger on the last trading day of 2007, breaking through 88 US cents thanks to strong private sector credit data and weak US new home sales numbers.
At 1430 AEDT, the Australian dollar was trading at 88.11 US cents, up from Friday's close of 87.26 US cents.
During the day, the domestic currency traded between a low of 87.33 US cents and a high of 88.11 US cents.
The local unit shot up from 87.85 US cents to 88.00 US cents sixteen minutes after the Reserve Bank of Australia (RBA) revealed at 1130 AEDT that total credit to the private sector, from financial intermediaries, climbed by 1.7 per cent...
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