FX & CFD trading involves significant risk
Michael Wang of CitiFX says AUD/USD remains underpinned by a variety of factors. First, there is talk of a UK bank buying an Australian financial institution. Second, "insurance companies continued to buy AUD against GBP and CHF to fulfill claims as the residual effect of the Queensland flood." In addition, Chinese stocks have risen 8 of the last 9 trading days and are nearing the year's highs.
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