AUD/USD Loses Gains After Intraday Rally

The Australian dollar gained on its US counterpart intraday but has lost most of its gains by now. Against other currencies, the Aussie was mixed today.

The Westpac Melbourne Institute Index of Consumer Sentiment fell by 2.3% in February from January. The index was up by 1.8% in the preceding month. The report explained the worsening sentiment by the fact that the survey was taken during the previous week, marked by significant volatility on global share markets:

Extensive media coverage of these developments would have unnerved respondents on two fronts – the impact on their own financial position and concerns for general global stability.

AUD/USD was up from 0.7857 to 0.7889 but pulled back to 0.7864 as of 11:32 GMT today. EUR/AUD declined from 1.5711 to 1.5699, retreating from the day’s high of 1.5734. AUD/JPY dropped from 84.73 to 84.48.

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