Australian Dollar finds support from the prices of steel

Analyst Royal Bank of Scotland Group Plc. It is believed that within the next 12 months, rising Australian dollar will be limited to the trend in world prices for coal and iron ore. "These prices have not shown growth, so over the next year the prospects for the economy of Australia and its national currency will be limited to", - said Greg Gibbs, currency strategist of the Bank in Sydney. He adds that there are signs that the future prices for steel and ore will increase, but the objective signals that this will happen in the near future there, so the global steel market is not receptive to the Australian dollar at the moment and is unlikely to change its attitude in the perspective of the forthcoming 12 months.