The $US continues to rotate in the 92-93 area with any upside creating a headwind for commodity prices and vice versa. At this stage MM is 50-50 whether we get another spike up towards 94-95 but importantly if we do we want the flexibility to increase our exposure to the resources sector into likely weakness.
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Reporting season has taken a positive turn – James Gerrish breaks down some of this weeks action.
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MM believes the $US will be capped by the 94-95 area
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