The Australian dollar was strong today as anticipation of stimulus from the US Federal Reserve overshadowed the sharp fall of Australian consumer sentiment this month.
The Westpac Melbourne Institute Index of Consumer Sentiment dropped by 4.1 percent in December from the previous month (from 104.3 to 100.0). The report called the drop “a very surprising result” as the sentiment index rose 5.2 percent in November. Nevertheless, the Aussie was strongest since September against the US dollar and reached the highest level since March versus the Japanese yen.
AUD/USD rose from 1.0526 to 1.0545, the highest rate since September 17, as of 10:22 GMT today. AUD/JPY climbed from 86.85 to 87.38 — the highest since March 27.
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