July 16, 2008

Aussie Dollar Backs Off 25-Year High

Category: Book Reviews, Broker Commentary, Market Updates, Trader Viewpoints – Kristina Zurla Landgraf – 9:46 am

The Australian dollar has come off its 25-year high against the U.S. dollar following four straight gaining sessions, after its Central Bank Governor said the chances of “keeping inflation low over the medium term are good.” Market participants took that as a hint rates may not increase further from the current level of 7.25 percent. Lind Plus Senior Market Strategist Phil Streible sees the pullback as a good opportunity to establish a bullish position in the Aussie dollar, as the currency’s prospects remain strong. Read Phil’s outlook and trading strategy.

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