The Australian dollar fell against the Japanese yen and touched the lowest level since October versus the US dollar today as Asian stocks declined. The Aussie rebounded versus the greenback but stayed weak against the Japanese currency.
The MSCI Asia Pacific Index of equities dropped as much 1.6 percent. The Standard & Poorâs GSCI Spot Index of commodities fell 1.1 percent, reducing the appeal of commodity currencies, including AUD. The Forex market is in the risk-off mode and that negatively affects riskier currencies, like the Australian one.
AUD/USD traded at 1.0249 as of 17:49 GMT today after falling from 1.0253 to 1.0223 (the lowest since October 15) earlier. AUD/JPY declined from 95.93 to 95.16.
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