Monday, August 11, 2008

Australian Dollar Tumbles



With Commodity prices collapsing it's no wonder that the Australian and Canadian Dollar are both selling off as both currencies are heavily influenced by oil and gold.

We've all heard the saying that the market takes the escalator up and the elevator down, well in the above chart this is exactly what happened. In just 3 weeks the Australian Dollar gave back 5 months worth of gains!

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