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GBP/AUD June Currency Update       started by HiFX on 08 Jul 2010   (22947)
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From HiFX

08 Jul 2010 11:02 PM
A wave of optimism (in currency and equity markets) over the potential boost to global trade with an imminent Chinese Yuan revaluation but sentiment was gradually undermined by worries over the sustainability of US growth and a brewing disagreement among G20 countries on the immediate course of fiscal intervention. The sacking of Kevin Rudd provided only the slightest relief and momentum was soon over-run by wider international concerns. The Aussie Dollar traded lower with the sharp drops on US and European equity markets, as investors worried about the removal of the ECB