The Australian dollar fell versus its U.S. counterpart today on the concern that the fiscal crisis in Europe will impact the global markets, eroding the demand for the riskier currencies, and on speculation that the central bank won’t raise the interest rates in June.
The troubles in Europe persist, damping the equities and the prices for the commodities and, as a result, hurting the currencies tied to growth, including the Aussie. The analysts say there are doubts that the central bank will increase the interest rates at the meeting of the policy makers in June.
AUD/USD traded near 0.8760 as of 8:46 GMT today, falling from the opening rate of 0.8848.
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