The Australian dollar’s fate still lies in the US dollar following local inflation data failed to hearten the currency.
The Aussie on Wednesday traded at 87.76 US cents, down from Tuesday’s 88.18 US cents.
The currency tumbled from its perch above 88 US cents overnight in the light of the greenback’s strength.
“The move was disappointing, given the Australian dollar should have been supported by encouraging Chinese data on Tuesday and an improvement in global equities, said Sean Callow, Senior Currency Strategist at Westpac.
Meanwhile, the market will be awaiting the speech of Reserve Bank of Australia Governor Glenn Stevens and Chinese economic figures due Thursday.
The material has been provided by InstaForex Company – www.instaforex.com
The Australian dollar’s fate still lies in the US dollar following local inflation data failed to hearten the currency.
The Aussie on Wednesday traded at 87.76 US cents, down from Tuesday’s 88.18 US cents.
The currency tumbled from its perch above 88 US cents overnight in the light of the greenback’s strength.
“The move was disappointing, given the Australian dollar should have been supported by encouraging Chinese data on Tuesday and an improvement in global equities, said Sean Callow, Senior Currency Strategist at Westpac.
Meanwhile, the market will be awaiting the speech of Reserve Bank of Australia Governor Glenn Stevens and Chinese economic figures due Thursday.
The material has been provided by InstaForex Company – www.instaforex.com
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