The AUD/USD added 28 points to 0.7519 gaining on the weak US dollar. The greenback reversed course after the Federal Reserve statement gave markets cause
The AUD/USD added 28 points to 0.7519 gaining on the weak US dollar. The greenback reversed course after the Federal Reserve statement gave markets cause to think that the Fed was on track to raise rates later this year. The Australian dollar has gained some ground after the US dollar weakened on signs the Federal Reserve is not ready to lift interest rates in September.
The currency came under pressure on Wednesday after official data showed that Australia’s annual inflation rate was one per cent, its lowest pace in 17 years. It fell further overnight after the US dollar initially strengthened on the Federal Reserve’s brighter outlook for the US economy, BK Asset Management’s FX strategy managing director Boris Schlossberg said.
However, Mr Schlossberg, said the US dollar had since slipped against a range of currencies as the market was not convinced the central bank would lift rates in September.
All the major events that came and went — Australia’s Q2 CPI release, Japan’s fiscal stimulus package and the US Federal Reserve’s July FOMC meeting just to name three — the Aussie is almost exactly back where it was trading 24 hours ago in early Asian trade on Thursday.
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Currency | Name | Volatility | Previous | Consensus |
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