AUD/USD continues higher on CNY and Graincorp bid

ADM have made a better bid for Graincorp this morning, which has please the AUD market (in addition to the CNY strength).

Archer Daniels Midland (ADM) is a US grains company
Bid is worth around $3.4bn
Bid was improved this morning, seen as more likely to proceed
Graincorp is an Australian logistics company, specialising in grain

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