Aussie Clobbering Euro

Over the past twenty days the Australian Dollar has advanced approximately 600 pips against the euro. The market is expecting Reserve Bank of Australia Governor Glenn Stevens to raise rates above 6% compared to the the euro at 3.25%. Inflation has been higher than the 2-3% Mr. Stevens wants. Rises in commodity prices have also helped Australia as they export a great deal of metal and other raw materials.

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