Australian Dollar Sees Strength Versus Majors, Wednesday, August 08, 2007 5:51:15 PM

The aussie was generally higher against its major counterparts on Wednesday in New York. The currency was up on the dollar and euro and little-moved against the sterling. The currency moved as a report on Australian official reserve assets was posted. The assets rose A$665 million to A$80.34 billion in July. The report also noted that official reserve assets improved from A$79.68 billion due to earnings and valuation changes on reserve assets.

The Australian dollar was up against its U.S. counterpart on Wednesday in New York and reached a 12-day high. The aussie saw strength in the morning before leveling off in the afternoon. The pair traded at 0.8623 at 5:40 p.m. ET.

The aussie moved higher against the euro on Wednesday in New York. The euro moved up in the later morning and then added further gains in mid-day trading. After a mid-afternoon drop, the aussie climbed back to 1.6000 by 5:45 p.m. ET.

The Australian dollar was little changed against the sterling on Wednesday in New York after experiencing uncertain trading in the morning and afternoon. The aussie gained to as high as 2.3511 in the early morning and fell back to as low as 2.3679 at 8 a.m. ET. Trading was a little more flat in the afternoon and the pair traded at 2.3607 at 5:45 p.m. ET.

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