Dollar Review – Australian dollar slips against the greenback

The Aussie Dollar has dropped back below parity against the greenback and has remained largely unchanged asUSpoliticians express doubt towards the crucial debt negotiations in Europe.

CNN news has reported that: A “supercommittee” which has been put in place to form an agreement in theUS, has already begun preparing for the likelihood of failure with the upcoming talks leading up to Wednesday’s deadline.

Imre Speizer, senior market strategist ofWestpac,New Zealand, stated that the recent news from theUShas caused sentiment for risk to weaken and the Aussie Dollar to fall.

On Sunday, Spanish voters had elected the right wing candidate, Mariano Rajoy, to a comfortable victory, managing to overcome yet another Eurozone government deep in the debt crisis. Imre Speizer believes that this is a “minor positive” for the risk markets.

William Dudley, president of the US Federal Reserve, believes that modest achievements inEuropethis week would not have a significant impact on the generally gloomy sentiment of world markets.

Early this morning, the Aussie dollar was trading at 99.86 US cents, slightly increasing from 99.82 US cents on Friday afternoon.

Since Friday late afternoon, it has traded between $1.0107 US and 99.65 US cents – the lowest it has faced since mid October.

AUD/ GBP: 0.646626
AUD/ EUR: 0.750347                  
AUD/ USD: 1.033088      
AUD/ JPY:  79.797314
Exchange rates as of 10:34, 21 November 2011

Composed by Chad Frieslich
:: Note: The above exchange rates are based on “interbank” rates.  If you want to transfer money to or fromAustraliathen please register/login on our website, www.1stcontactforex.com, or call us for a live dealing rate.  Make use of a Rate Notifier to send you alert when the Australian exchange rate reaches levels you are looking for.