The Australian dollar experienced the significant losses this week on the concerns for the new mining tax, which, while eased somewhat, didn’t go away completely.
The Aussie was falling against the U.S. dollar for the whole week, except for the Thursday, and ended noticeably lower than the opening level. Against the euro, the Australian currency has rose on Monday, but for the rest of the week it was steadily falling. The Australian dollar was also falling versus the Japanese currency this week, yet on Friday it demonstrated the small gains.
The mood among the traders somewhat brightened after the Australian government agreed to rethink the mining tax. But the new proposal definitely doesn’t look satisfying to all investors.
AUD/USD closed at 0.8425 after opening at 0.8742 and reaching its lowest weekly level of 0.8316. EUR/AUD closed at 1.4890 after it opened at 1.4157 and its the highest level this week of 1.4941. AUD/JPY closed at 73.95 after opening at 78.07 and reaching the lowest level in the week of 72.67.
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