The Australian dollar rallied during the current trading session as markets continued to calm down after the Brexit shock.
Market participants were hoping that central banks across the world are going to implement stimulating measures, helping the global economy to weather the impact of Britain’s exit from the European Union. Such view led commodities higher, helping growth-related currencies (like the Australian dollar) along the way. It is important to note that the Aussie has a negative factor in the form of the inconclusive election results that may yet drive the currency down.
AUD/USD climbed from 0.7446 to 0.7538 as of 17:25 GMT today. EUR/AUD tumbled from 1.4927 to 1.4785, trading near the lowest level since the big jump on April 27.
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