Commodity currencies were on the back foot today as the US dollar continued to fight for dominance on the Forex market. The Australian currency was among losers falling for the fourth straight trading session against its US peer and the Japanese yen.
The greenback was fighting downside pressure last week and continued its battle today. So far, it is winning, and this put other currencies on the back seat. Currencies linked to performance of raw materials were especially vulnerable as commodities, including gold and crude oil, demonstrated significant losses during the Monday’s session.
AUD/USD dropped from 0.7732 to 0.7658 and AUD/JPY fell from 92.17 to 91.81 as of 12:03 GMT today.
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