Batz
Batz Brewery...Hand crafted beers from the 'Batcav
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THE Australian dollar opened lower today, having fallen victim to profit taking after surging to a 28-year-high during offshore trade.
The "Aussie's" offshore peak of 99.18 came after better than expected local employment numbers yesterday increased the chance of an interest rate rise in November.
At 7.00am (AEDT), the dollar was trading at 98.08 US cents, down from yesterday's close of 98.37 cents.
Since 5.00pm (AEDT) yesterday, the local unit traded between 97.83 US cents and 99.18 cents.
The latter was the unit's highest showing against the US dollar since August 3, 1982, when it touched 99.53 US cents when the currency was on a fixed exchange rate.
Its overnight high was the highest the unit has been since it was floated in December 1983.
"It was a bit of a wild ride for the Aussie overnight."
http://www.brewersdiscount.com/