29 October 2001, 09:24  Forex - Australian dollar little changed in thin trade

SYDNEY (FWN) - The Australian dollar was little changed in late afternoon after thin trade, dealers said. The unit traded between a high of 0.5020 usd and a low of 0.5003 during the day. ANZ Investment Bank economist Karen Pringle said she continues to expect the Australian dollar to trend weaker on a 1-3 months time frame on the assumption that markets are not yet ready to look beyond the current period of uncertainty and weakness to the anticipated economic recovery. However, she believes that the Australian dollar may well be close to a turning point and buying the unit at below 0.5000 usd will inevitably turn out to be a good move in time.

© 1999-2024 Forex EuroClub
All rights reserved