Aussie seeks momentum

The Australian dollar started the week around A$0.5443 per US dollar, before being immediately put under pressure by a worse than expected trade deficit (A$634 million). It took little time for speculative sellers to emerge, with the currency falling heavily as traders reassessed the domestic growth outlook. With the US Dow Jones Index plummeting 3.3% and the A$ unable to recover from its earlier attack, the currency appeared poised for another pressured week.

Tuesday, however, was a different

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