By guest contributor Stuart Talman, Director of Australian Sales, XE.com
The Aussie dollar’s slide gained momentum last week yet remarkably, the Aussie dollar bears could not pierce the 70 US cent mark. The local currency was under pressure for most of the week as a number of catalysts forced price action below key support at 0.7050/60 with the strongest catalyst being a very weak GDP print. Last Wednesday’s release showed an Australian economy that slowed considerably over the second...