The Australian dollar hovered below 93 US cents as the US dollar recouped its strength after a disappointing US economic data.
On Thursday, the Aussie traded at 92.94 US cents, unchanged from Wednesday’s 92.95 US cents.
The currency leaped 93.11 US cents overnight following a weaker US retail sales data sapped the greenback.
US retail sales figures were almost unchanged in July, which edged up 0.1%.
“We’re seeing a bit of US dollar strength across the board. The weakening overnight was a rational response to the data but the overall trend at the moment is toward a strong US dollar,” said Michael McCarthy, Chief Market Strategist at CMC.
The material has been provided by InstaForex Company – www.instaforex.com
The Australian dollar hovered below 93 US cents as the US dollar recouped its strength after a disappointing US economic data.
On Thursday, the Aussie traded at 92.94 US cents, unchanged from Wednesday’s 92.95 US cents.
The currency leaped 93.11 US cents overnight following a weaker US retail sales data sapped the greenback.
US retail sales figures were almost unchanged in July, which edged up 0.1%.
“We’re seeing a bit of US dollar strength across the board. The weakening overnight was a rational response to the data but the overall trend at the moment is toward a strong US dollar,” said Michael McCarthy, Chief Market Strategist at CMC.
The material has been provided by InstaForex Company – www.instaforex.com
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