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Australian dollar closes higher in wait and see mode |
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THE dollar has closed higher, after the resource sensitive currency was bolstered by a bullish day of trade on commodity markets.
But the investors kept to a tight trading range ahead of key US employment data due during today's offshore session.
At 5pm (AEST), the dollar was trading at $US0.8408/10, up from yesterday's close of $US0.8383/87.
Since 7am (AEST), the local unit moved between a low of $US0.8380 and a high of $US0.8405.
"It's had very tight ranges today," said CMC markets foreign exchange dealer Tim Waterer.
"It's in a wait and see mode ahead of non-farm payrolls out in the US tonight, so we're not going to see any dramatic moves ahead of that data tonight.
"Aside from that, the high gold price has been propping up the Aussie this week."
The local equity market, which is seen by currency traders as a barometer of risk, closed lower today.
At 4.15pm (AEST), the benchmark S&P/ASX200 index closed up 5.9 points, or 0.13 per cent, at 4435.5 points, while the broader All Ordinaries index gained 9.8 points, or 0.22 per cent, to 4442.7 points. |
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Dollar bounces off lows on data surprise |
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The Australian dollar climbed off lows on Thursday after a surprising jump in business investment last quarter suggested the economy is growing faster than expected, underpinning bets for local rate hikes this year.
Still, gains were capped by thin trading conditions, and a general sense of caution as investors worried China's economy could slow if the government tries to rein in investment.
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Aussie dlr steady, market lies low before U.S. jobs |
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* Aussie steady, near-term trend to be set by payrolls
* Bond futures ease, yield curve steepens again
SYDNEY, Sept 4 - The Australian dollar held its ground near $0.84 on Friday as investors refrained from making big trades ahead of a key U.S. jobs report.
The Aussie was steady at $0.8401 in light trade, virtually unchanged from $0.8390 seen late in New York on Thursday. Equally, it barely budged against the yen at 77.80 yen .
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