The Australian dollar fell against its US peer and slipped a bit against the euro, weighed down by the US monetary policy outlook as well as by forecasts of positive macroeconomic reports from the United States.
US economic indicators released today are expected to be positive, including the gross domestic product data that should demonstrate growth in the second quarter of this year after the contraction in the first quarter. Market participants are also betting on an early interest rate hike from the Federal Reserve. Both these factors make the Aussie vulnerable, especially against its US counterpart.
AUD/USD dropped from 0.9383 to 0.9370 as of 9:43 GMT today. EUR/AUD ticked up from 1.4287 to 1.4299.
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