The Australian Financial Review --- Page: 26 : 13 May 2008 No author supplied for original article
LexisNexis Summary
The Australian dollar on 12 May 2008 was affected by new economic data on housing. The Australian Bureau of Statistics released figures indicating that finance commitments for new residential properties declined 6.1% in the month of March. As a consequence, speculators became convinced the Reserve Bank of Australia was now less likely to raise official interest rates again, and the Australian currency closed below $US0.9380 after earlier breaking through the threshold of $US0.94. The next major factor will be the federal Budget on 13 May.
