China Growth Target Cut Spurs Yen, Sinks Aussie

Discussion in 'Forex Trading' started by DannyBly1, Mar 5, 2012.

  1. The Australian Dollar sank early Monday as it's biggest trading partner China said it will lower its target for economic growth to 7.5% this year, down from 8 percent, the lowest goal since 2004.

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    Chart Courtesy of thinkorswim

    Meanwhile, the perceived safe haven of the the Japanese Yen strengthened against the US Dollar.

    [​IMG]

    Chart Courtesy of thinkorswim