29th September 2011
The Australian dollar (AUD) saw a dip in its value yesterday (September 28th) in global forex trading and analysts are predicting it could just be the start of a downturn for the money over the coming weeks.
According to the Wall Street Journal, despite the fact sentiment towards the eurozone crisis has improved over recent days, Asian markets in particular are continuing to feel the pinch in terms of falling confidence.
As a result, AUD fell by more than two per cent this afternoon, even with new figures from the Australian government showing the number of employment vacancies across the country rose by four per cent in the three months to August.
Christopher Gore, a currency trader with Go Markets in Melbourne, forecast: "We still think the Aussie is on a downward trajectory with so much more to go through in Europe. The Aussie is on its way to at least US95c."
Posted by Andrew Johnston
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