Australian Dollar Higher Despite Lackluster Retail Sales

The Australian dollar moved higher during today’s trading session even though Australia’s retail sales missed analysts’ estimates.
Retail sales rose by just 0.1% in June from May on a seasonally adjusted basis. Market participants were counting on at least 0.3% growth. The Aussie was rising despite the disappointing report but halted its rally after the Bank of England had announced its stimulus package. Nevertheless, the currency is still trading above the opening level.
AUD/USD was up from 0.7587 to 0.7619 as of 14:58 GMT today. AUD/JPY traded at 77.02 after opening at 76.81 and rising to the session maximum of 77.34.

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