The Australian dollar ticked up versus the Japanese yen today, trading sideways against its US counterpart at the same time. Signs of improving consumer confidence helped the Aussie, yet the currency was subdued by the news from China.
The Westpac Melbourne Institute Index of Consumer Sentiment rose by 1.9 percent in July after rising 0.2 percent in June. Yet the report was not particularly optimistic, saying that “this is another disappointing result” and “consumer sentiment remains soft”. Economic data from China, Australia’s biggest trading partner, was not supportive for the Aussie either, leaving the currency directionless for the time being.
AUD/USD traded at 0.9392 as of 12:11 GMT today after rallying from 0.9399 to 0.9415 earlier. AUD/JPY rose from 94.46 to 95.54.
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