AUD,NZD : Plunge As Commodity Boom Loses Steam
Commodity prices are no longer spiraling out of control, and as a result, currencies like the Australian, New Zealand, and Canadian dollars have plunged in recent weeks. Over the past five days alone, AUD/USD has plummeted nearly 300 points while NZD/USD has dropped almost 200 points. However, both pairs have recently run into some support, but with economic indicators out of the Australian, NZ, and Canadian regions expected to be widely disappointing, the losses for these commodity currencies may not be over quite yet.
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08-03-2008, 09:06 PM
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