Australian Dollar Rises in Spite of Economic Data

The Australian dollar gained against its most-traded peers today even though Australia’s economic data was not particularly helpful to the currency.
The Westpac-Melbourne Institute Consumer Sentiment dropped 1% in June. The report was not necessarily that awful as Westpac Senior Economist, Matthew Hassan, commented:

Coming after an 8.5% surge in May, the small decline in June mostly represents a consolidation at improved levels.

With data being not particularly bad, the Aussie managed to join its New Zealand counterpart in a rally.
AUD/USD gained from 0.7357 to 0.7388 as of 8:35 GMT today, bouncing from the daily low of 0.7333. AUD/JPY was up from 78.06 to 78.55, staging a rebound from the session low of 77.74.

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