The Australian Dollar has managed to hold onto most of the recent gains against the major Europeans despite a heavy fall against the USD on Friday. USA data was stronger than expected with PCE inflation accelerated to 1.7%pa, only modestly short of FOMC's 2%pa target. A full rate hike by the FOMC is now priced for September 2016.

AUD continues to hang near 70 cents

Despite the falling Oil and Commodity markets the Australian Dollar (AUD) continues to hang close to 70 cents to the United States Dollar (USD). The trend looks set to continue over the next couple of months with market economists still mixed about the current state of the USA economy and the future of commodity markets.

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