The Australian dollar fell against its US counterpart after the gauge of the nation’s service’s sector demonstrated yet another month of decline. The currency also erased its gains versus the Japanese yen that it had made previously.
The seasonally adjusted Australian Industry Group Australian Performance of Services Index declined from 49.4 in August to 45.4 in September. The figure below 50.0 indicates contraction of the sector, and it was the seventh month of decline. The Aussie, which rallied yesterday due to positive economic data, stumbled today and was unable to maintain its rally.
AUD/USD fell from 0.8801 to 0.8753 as of 11:51 GMT today. AUD/JPY rallied from 95.42 to 95.89 earlier during the current trading session but pulled back to 95.38 as of now.
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