The Australian Financial Review --- Page: 26 : 3 May 2007 No author supplied for original article
ABIX Summary
The Australian dollar was buying $US0.8242 late in the trading session on 2 May 2007, down from $US0.8306 previously. The US dollar was bolstered by news that growth in the Institute for Supply Management's manufacturing index for April exceeded expectations. This prompted speculation that US interest rates may remain unchanged in the near-term, dousing expectations of a rate cut. Meanwhile, the Reserve Bank of Australia's decision to leave interest rates unchanged had little effect on the Australian dollar, as a rate rise had not been expected.
