Author: Dennis Li
Overnight we saw the AUD recover nearly all of its losses on Wednesday while the rally was limited to the recent resistance of 0.7100 against the USD. Both the AUDEUR and AUDGBP hit its three-and-half-week high after the ECB on Thursday announced to keep interest rates unchanged as widely expected and stuck to its plan to end its huge bond-buying program by the end of 2018, even as the growth outlook continues to darken and political turmoil in Italy overshadows the currency bloc. EUR interests rates are unlikely to rise for a while yet.
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