Wool market bounces back with 10c gain

By Bruce McLeish, Elders Northern Wool Manager
Updated February 6 2017 - 2:45pm, first published February 5 2017 - 12:48pm
ON THE RISE: The wool market bounces back in the past week despite the surging Australian dollar.
ON THE RISE: The wool market bounces back in the past week despite the surging Australian dollar.

THE wool market bounced back from last week’s correction with a subdued rise of 10c. Subdued no doubt by the surging Australian dollar, which has had a rocket under it after very good trade surplus numbers, and a generally weaker US currency leading to an exchange rate of US76.5c on Thursday and very nearly breaking the US77c barrier on Thursday night after auctions had closed.

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