By Matt Dalgleish | Source: Riemann
A softer bias to the auctions this week flowed through to the wool forward market with very subdued interest from exporters as the higher A$ took its toll.
The A$ appears range bound between 69.5 – 73.5¢ US for the moment. There is potential for a test to the top of this range in the coming week as the speculative A$ market appears to be carrying some short positions which may continue to dampen exporter demand for wool in the near term.
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