The Australian dollar, like other currencies considered to be relatively risky, opened sharply lower today amid the risk-adverse market sentiment. Poor domestic macroeconomic data did not help the currency either.
Australian company gross operating profits fell 4.5% in the June quarter from the previous three months on a seasonally adjusted basis, exceeding the drop by 3.9% predicted by analysts. What is more, the first quarter’s increase was revised from 6.0% to 5.8%. That was not helpful to the Aussie, though the news about another nuclear test by North Korea was likely the most important contributor to the currency’s weakness.
AUD/USD closed at 0.7967 on Friday, opened at 0.7946 today, and traded near 0.7950 as of 12:50 GMT today. AUD/JPY was at 87.20 after ending the previous session at 87.37 and starting the current session at 87.03.
If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.
