The Australian dollar declined today, falling for a third consecutive session versus its US peer, after the release of the Westpac — Melbourne Institute Survey of Consumer Sentiment that demonstrated decline of consumer confidence in Australia.
The Westpac — Melbourne Institute Index of Consumer Sentiment fell by 4.6 percent in September from August. Westpac’s Chief Economist Bill Evans commented on the reading:
This is a surprising and disappointing result.
In effect most of the steady recovery we had seen in the Index over the last 3 months has been eroded.
AUD/USD fell from 0.9203 to 0.9141 as of 11:53 GMT today, and its daily low of 0.9113 was lowest March 24. AUD/JPY dropped from 97.72 to 97.47.
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