Australian dollar steady at open The Australian dollar has held its own against a stronger US doallr driven by positive data, after China's central bank moved to calm fears that its country faces a credit crisis. At 0700 AEST,
オークリー 店舗, the local unit was trading at 92.60 US cents, up from 92.55 cents on Tuesday. Overnight, China's central bank said it would provide "liquidity support" to banks that run into cash shortfalls after a shortage of money in credit markets led to fears the country faced a credit crisis.
A raft of US economic data released on Tuesday night, AEST, showed that the American economy was strengthening, with strong figures on consumer confidence, durable goods orders and home sale prices. ANZ foreign exchange strategist Andrew Salter said the news out of China would most likely be interpreted positively,
oakley サングラス, balancing out the effects of the strong US economic data. "We're getting two off-setting factors, the stronger US dollar from the US data but that didn't drag the Aussie dollar down as much as other currencies because of the positive news out of China,
オークリー メガネ," Mr Salter said.
"At the moment, we're caught in the competing dynamics of what the better US data actually means for the Australian dollar. "The traditional explanation is that they're better... but there have been points in the last couple of months where stronger US data has been associated with a stronger US dollar." The Australian dollar, along with other major currencies, has lost ground against a surging US dollar in recent weeks.
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