Aust dollar sold off on soft data; 47 US cents level looms

AAP General News (Australia)
04-10-2001
Aust dollar sold off on soft data; 47 US cents level looms

The Australian dollar has drifted off on disappointing data and appears poised to run
back down to the 47 US cent region.

Data on job advertisements and housing finance both came in much softer than expected
yesterday, but the currency took a while to react.

After starting the overnight session on a high of $US0.4980, the Australian dollar
spent most of the London and New York sessions losing ground.

At 7am (AEST) the Australian dollar was $US0.4914/19 compared with $US0.4957/62 at
the close yesterday.

The market is expected to look to the lunch-time address in Melbourne today by Reserve
Bank of Australia governor IAN MACFARLANE.





The ANZ job advertisements fell last month to their lowest level in four years.

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KEYWORD: AUST DOLLAR (SYDNEY)

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