The Australian dollar gained against its most-traded peers today even though Australia’s economic data was not particularly helpful to the currency.
The Westpac-Melbourne Institute Consumer Sentiment dropped 1% in June. The report was not necessarily that awful as Westpac Senior Economist, Matthew Hassan, commented:
Coming after an 8.5% surge in May, the small decline in June mostly represents a consolidation at improved levels.
With data being not particularly bad, the Aussie managed to join its New Zealand counterpart in a rally.
AUD/USD gained from 0.7357 to 0.7388 as of 8:35 GMT today, bouncing from the daily low of 0.7333. AUD/JPY was up from 78.06 to 78.55, staging a rebound from the session low of 77.74.
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