$Aust down
PA Wellington Asian selling of Australianheld assets was rumoured to be the cause of a 1 U.S. cent fall in the Australian dollar on the Wellington foreign exchange market yesterday. Dealers were surprised when selling pressure suddenly focused on the Australian unit, as the latest Consumers’ Price Index figure was expected to be quite favourable. The New Zealand dollar appreciated by one Australian cent during the day to be
worth 85.8 c near close. The kiwi' dollar looked reasonably resilient, but was a little lower near the end of trading at $U50.5380/95 from 5U50.5405/20. On the cross-rates, the New Zealand dollar was worth 1.14 Deutschmarks, 36.16 p, and 83.85 yen. In Sydney, the Australian dollar was sharply lower yesterday and hit a record low on the Reserve Bank’s trade weighted index after thirdcurrency dealing triggered local selling.
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Press, 24 July 1986, Page 28
Word Count
139$Aust down Press, 24 July 1986, Page 28
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