Australian Dollar Firms After Opening Sharply Lower

The Australian dollar opened sharply lower against the US dollar and the euro at the start of this week’s trading, but as of now the currency is attempting to regain its footing.
Fed Vice Chairman Stanley Fischer said on Sunday that the US central bank is close to reaching its inflation and jobs targets. His comments added to last week’s remarks from other members of the Federal Reserve that were for the most part hawkish. Prospects for monetary tightening from the Fed have detrimental effect on riskier currencies tied to commodities and global growth.
AUD/USD was at about 0.7607 as of 8:20 GMT today after closing at 0.7625 on Friday and opening at 0.7600 during the current trading week. EUR/AUD ended the last week at 1.4851, opened this week at 1.4862 but backed off to 1.4824 at the present time.

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