Australian Dollar headed for first weekly advance in six weeks

Source: Bloomberg
© Scanpix/Agence France-Presse
The Aussie is set for its first one-week advance in six weeks on bets that its almost 9% fall in the last eight weeks was excessive. The Australia's currency slipped 0.3% to 96.11 U.S. cents as of 9:50 a.m. Sydney time from yesterday, after reaching 96.66, the highest level in two weeks, and it is set for 1.2% advance weekly. The New Zealand's Dollar dropped 0.2% to 80.79 U.S. cents; however, it  gained 2.4% on a weekly basis.
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