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The RBA meets

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Category: Forex

The RBA meets tomorrow to announce their latest decision on interest rates. If they don't announce another minimize, we look for the DEC 12 Aussie Greenback to continue its power and possibly shoot for the important 1.045 prime of range/resistance level. Even if there is another rate reduce, we imagine the Aussie dollar will maintain up effectively and proceed its bullish tone.

The euro fell to the bottom in nearly eight weeks against the dollar amid hypothesis Greece will struggle to win bailout funds, risking the nation’s future within the European forex bloc.

The euro declined versus all its 16 main counterparts after Greek Prime Minister Antonis Samaras pledged yesterday that proposed wage and pension cuts will be the final as he struggled to win political help for measure to assure the nation’s lifeline. The Greenback Index rose for a 3rd day earlier than tomorrow’s U.S. presidential election. The pound fell against the dollar after U.K. companies growth slowed. Sweden’s krona strengthened versus the euro.

 

“It’s all negatives just lined up” for the euro, mentioned Neil Mellor, a international-change strategist at Bank of New York Mellon Corp. in London. “It’s not clear how the vote is going to go and I’m notconvinced that ought to the vote be carried, it might be positive for Greece and the euro zone.”

The euro weakened 0.4 p.c to $1.2787 at 7:08 a.m. New York time after dropping to $1.2778, the lowest degree since Sept. 11. The widespread currency fell 0.6 p.c to 102.58 yen after sliding 0.5 % on Nov. 2. The yen appreciated 0.3 percent to 80.22 per dollar.
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