Australian Dollar May See Extended Losses On Weak Inflation Data (Daily FX via Yahoo! Finance)
January 26, 2009 by admin · Leave a Comment
The Australian dollar dropped over 400 pips on the week as troubles in the U.S. and U.K. banking systems fueled risk aversion and led to the unwinding of the carry trade. Fundamental data for the country didn?t help sentiment as consumer confidence fell for the first time in three months by 2.2% as the contracting economy is weighing on the labor market.
