During the last trading session of this week, several majors weakened against the US dollar. The first currency to drop against the greenback was the Australian dollar. During the Asian and Pacific session, the AUD/USD pair stopped its upward movement and dropped by 30 points, consolidating around 0.7840. Analysts forecast a fall to 0.7780 if the pair will sink to 0.7820. The demand for the Australian dollar fell after the report showing that Australia trade deficit has widened. Market participants had forecast a 550 million surplus.
The difference between exports and imports grew to -628 million Australian dollars in November. The US dollar also rose against the Japanese currency. Investors withdraw funds from the yen due to increased risk appetite. The pair has risen above the resistance level of 113.00 and is trying to gain ground during the early European session. In addition, traders are waiting for the positive statistics from the US labor market, which should increase demand for the US dollar.
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