The Australian dollar extended yesterday’s gains versus the Japanese yen and losses against the euro today. The currency weakened against the US dollar, paring the earlier rally.
The market sentiment remained mildly positive, supporting riskier assets. The MSCI World Index of stocks rose 0.5 percent yesterday. The Thomson Reuters/Jefferies CRB Commodity Index advanced 0.8 percent. The rally of shares and raw materials helped currencies related to growth.
The good traders’ mood did not help the Aussies to gain against the euro and the greenback though. It was not a surprise as weakness could be expected amid fundamentals that were unfavorable for the currency.
AUD/USD went down from 1.0388 to 1.360 as of 2:37 GMT today. EUR/AUD advanced from 1.2680 to 1.2712, trading near the highest level since March 11. AUD/JPY was higher from 101.29 to 101.69.
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