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Australian shares soar 1% and the aussie dives 0.5% following the RBA's surprise rate cut. The...

Australian shares soar 1% and the aussie dives 0.5% following the RBA's surprise rate cut. The RBA controls short rates in Oz, but the question for aussie traders is whether the central bank has the power to weaken the aussie, which - through a tightening and loosening cycle over the past few years - has simply tagged along with the S&P 500.
Comments (2)
  • I spend most of my time every year in Papua New Guinea, Australia's neighbor to the north. In a country with 75% unemloyment rate, a ton of people are now engaged in alluvial mining. Gold's prospects and prospectors looking very rosy for the next 5 years.
    2 Oct 2012, 06:09 PM Reply Like
  • Soar 1%? Dive one-half percent? You're kidding.
    -Karl Krachenberg
    6 Oct 2012, 09:17 AM Reply Like
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