Aussie Climbs at Beginning of Trading Session, Loses Gains

The Australian dollar went higher at the beginning of the trading week, but was unable to keep gains and went down as traders continued to wait of the minutes of the last central bank’s meeting.
The Reserve Bank of Australia will release the minutes of its August policy meeting tomorrow. The central bank signaled after cutting interest rates that it is not planning to continue rate cuts anymore. Market participants hope that the minutes will provide clearer picture of the RBA intentions.
The Aussie (as the Australian currency is nicknamed) was falling since April till August. The currency attempted to recover at the first half of August, but was consolidating since.
AUD/USD rose from 0.9185 to 0.9232 before retreating and trading at 0.9116 as of 23:45 GMT today. EUR/AUD climbed from 1.4510 to 1.4623, while it fell to the low of 1.4441 intraday. AUD/JPY fell from 89.65 to 89.01 after rising to 90.11 earlier.

If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *

six + 1 =