The Australian dollar slipped intraday despite the improving business confidence but has trimmed its losses by now, erasing them against the US dollar outright.
The National Australia Bank reported that the business confidence index increased from +7 to +11 in December, reaching the highest level since July 2017. The report said that the rise was “perhaps driven by a stronger global economic backdrop.” The business conditions index was unchanged at +13.
AUD/USD was at about 0.8103 as of 11:27 GMT today after opening at 0.8092 and falling to the daily low of 0.8042. AUD/JPY declined from 88.16 to 87.97 but bounced from the intraday low of 87.45.
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