Futures Market News
Aussie drops lower than parity against U.S. dollar
May 14, 2012 10:31 AM
The Aussie's value also dropped to record lows as bond yields fell and Greek president Karolos Papoulias continues working with national party political leaders as they drive toward creating a national unity government. China reduced cash requirements of its banks, prompting Australian and New Zealand optimism to climb regarding exports.
"We anticipate a mild acceleration in China's gross domestic product growth over the next 12 months," chief FX strategist Richard Grace with CBA told Dow Jones Newsires. "In such an economic environment, it is difficult to get too bearish on the Australia dollar."
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