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  • New York 23:37
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Forex: AUD/NZD up and trading at 1.2637

Tue, Feb 9 2010, 04:54 GMT
http://www.fxstreet.com

FXstreet.com (Sydney) – The Kiwi regained some of its recent losses against the Aussie and is trading at 1.2637. The pair started the day at 1.2654, slightly higher than yesterday’s close and even posted an intraday high of 1.2667. The pair has since eased slightly.

The NZD lifted against the AUD as well as the USD as exporters fought against the Kiwi being sold off heavily. The NZ Prime Minister today announced an increase in the GST and across the board tax cuts. However, the Kiwi did little afterwards given the lack of detail on the announcement.

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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

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