Australian Dollar Attempts Stop Decline, Fails



Australian dollarThe Australian dollar attempted to pare its losses today after Asian stocks rebounded, but this attempt wasn’t successful, meaning that the currency heads for a ninth straight session of losses.

The MSCI Asia Pacific Index posted a decline of 1.7 percent, rebounding from the drop by 5.5 percent. The Australian currency also rebounded from its intraday decline by 2.5 percent against the US dollar, but currently resumed movement to the downside. The present economic conditions simply aren’t good for the currencies that are related to growth and commodities.

AUD/USD traded at 1.0160 today as of 9:38 GMT after falling earlier from 1.0186 to 0.9926.

If you have any questions, comments or opinions regarding the Australian Dollar, feel free to post them using the commentary form below.

Earlier News About the Australian Dollar:

    Eighth Session of Suffering for Aussie (2011-08-08)
    AUD Down on Economic Outlook Revision (2011-08-05)
    Australian Dollar Continues Its Correction on Weak Retail Sales (2011-08-03)
    AUD Surges Against Everything on Higher Inflation Numbers (2011-07-27)
    Aussie Rises on Rate Expectations, US Problems (2011-07-25)


This entry was posted on TopForexNews on Tuesday, August 9th, 2011 at 9:39 am and is filed under Australian Dollar. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.
Australian Dollar Attempts Stop Decline, Fails Australian Dollar Attempts Stop Decline, Fails Reviewed by Sopheap Chhin on 11:26:00 AM Rating: 5

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