The Australian dollar was a bit soft today after yesterday’s gains amid uncertainty on the Forex market caused by today’s announcement of the Federal Reserve policy decision. Losses were limited as domestic fundamental reports were favorable.
The Conference Board leading index for Australia advanced 0.3 percent in July after dropping as much as 1.1 percent (revised from the drop of 0.2 percent) in the previous month. The Melbourne Institute leading indicators rose 0.6 percent in July after posting no change in the month before. The data supported the central bank’s view that interest rate cuts are not imminent.
AUD/USD was at 0.9345 as of 14:42 GMT today after opening at 0.9352. AUD/JPY ticked down from 92.70 to 92.50.
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