Sydney, Aug 8, 2007 (ABN Newswire) - Australian shares could open on firmer ground this morning, helped by a modest rise in New York. Investors will be watching for the Reserve Bank's interest rate decision which is due this morning. The bank is widely expected to raise rates to an 11-year high of 6.50 per cent.
On Tuesday, ASX gained 65 points ending at 5,985. On the futures market the SPI200 is up 35.
Turning to currencies, the Australian dollar edged lower against the greenback after the US Federal Reserve said inflation remained its primary concern. At 8:30 AM the Aussie dollar is buying 85.6 US cents, on the crosses the dollar is buying 101.67 yen, 62.28 Euro cents, and 42.34 British pence
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