3rd August 2012
The AUD/NZD axis is experiencing some significant fluctuations today (August 3rd).
It recently hit a two-week low and continues to trade between 1.2841 and 1.2921.
The European Central Bank's (ECB's) decision to take no immediate action has had far reaching implication for the markets and those in the Pacific region were also affected.
Asian shares are still on a downward trend as the global sell-off continues and traders' appetite for risk is suppressed.
Japan 225 is down by 125.68 points (1.45 per cent) to 8527.50. Australia's ASX 200 has already lost 37.54 points, (0.88 per cent) and now stands at 4232.00
At the moment, the AUD to GBP exchange rate is 0.6749, while one NZD buys 0.5239 pounds.
Investors will now be concentrating on the US non-farm payroll data for July which is released later today. There remains some uncertainty among onlookers as to how the Australian dollar will react to the figures.
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