Foreign Exchange

28 August 2008 - AEST 8.30am - USD ended European and US sessions only modestly firmer from the Asian close - Euro eased from levels around US$1.4775 in European trade to around US$1.4670 ending US trade near US$1.4730 - AUD fell from highs of US86.35c to US85.35c ending US trade near US85.85c - JPY weakened from 108.70 yen per US dollar to JPY109.90 ending at JPY109.50 - US share markets posted solid gains on Wednesday investors comforted by solid business spending data - The Dow Jones index rose by almost 90pts or 0.8pct - The Nasdaq lifted by 20pts or 0.9pct - Trading in Fannie Mae was halted and an announcement was made - US 10yr yields eased 1pt to 3.77pct while US 2yr yields fell by 4pts to 2.29pct - The September Nymex crude oil quote rose by US$1.88 or 1.6pct to US$118.15 - London Brent rose by US$1.59 to US$116.22 a barrel - base metal prices posted solid gains on the London Metal Exchange on Wednesday - The price of gold was also higher on Wednesday benefiting from a renewed investor push into commodities.