The Australian dollar rose today as signs of economic reforms in China, the biggest trading partner of Australia, improved the risk sentiment of Forex traders and prospects for nation’s exports.
Last week, the Chinese Communist Party was discussing the future of the country. The discussions resulted in plans for liberalizing laws, regulations and economy. The Aussie rallied on the news, but gains were limited by prospects for an interest rate cut from the Reserve Bank of Australia.
AUD/USD rose from 0.9372 to 0.9400 and AUD/JPY ticked up from 93.94 to 94.03 as of 13:10 GMT today.
If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.
Be First to Comment