The Australian dollar followed its New Zealand counterpart in decline today. Data from Australia was good, but it looks like the South Pacific currencies are determined to fall no matter what.
The Westpac Leading Index showed signs of improvement. The report said:
Recent above trend growth in the Index is pointing to a much better outcome over the next few quarters.
Yet the Aussie fell, ignoring good fundamentals, the same as the kiwi.
AUD/USD fell from 0.9429 to 0.9380 and AUD/JPY declined from 94.42 to 93.75 as of 13:25 GMT today.
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