The Australian dollar was moving lower against its US peer during the current trading session, though currently the Aussie has trimmed some of its losses. The Australian currency also pared its losses versus the euro.
Janet Yellen, Federal Reserve Chairperson, was speaking on Friday, and she signaled possibility of an interest rate hike in the near future. Monetary tightening would mean less “cheap money,” and that discourages investors from risky investments. The Aussie is considered to be one of the riskier currencies, thus it also suffered with other growth- and commodity-related counterparts.
AUD/USD slipped from 0.7559 to 0.7524 intraday but bounced to trade at 0.7546 as of 11:40 GMT today. EUR/AUD traded at about 1.4796 after opening at 1.4782 and touching the daily high of 1.4870.
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