Forex: AUD/USD rises to 0.9141

on Jul 4, 2013
Listen Thursday July 4th:_ The Australian dollar has continued its current upward movement against the greenback and so far in today’s European session the pair has increased 0.41 percent to a current session high at 0.9141.

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Earlier today Australian Building Permits for May were released on an annual and monthly basis and showing a seasonally adjusted fall for total dwellings of 1.1 percent in the month y/y, following April’s sharp rise of 9.5 percent. The monthly reading was a 3.2 percent fall, way down from the 28.8 percent rise in April.

Philip Lowe, Reserve Bank of Australia deputy governor, spoke at a global finance conference in Sydney today, with the topic “Some Tensions in Financial Regulation”. Lowe said that regulators face trade-offs as they set rules aimed at reducing risks in the financial system: “I suspect that it is simply not possible, or in fact desirable, to regulate a modern financial system to the point that we can say with absolute confidence that problems will not occur. What we can do, however, is to reduce the likelihood and severity of future problems.”


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AUD Forex