Aussie heads south

Aussie heads south

On Wednesday, the Australian dollar dipped in Asia because consumer prices data came in a tad weaker than expected. Additionally, the market saw an ongoing steady policy of rates at a record minimum 1.5% by the Reserve Bank of Australia.

The US dollar index, measuring the greenback’s value against six main currencies, slid 0.06%, hitting 98.66. 

The currency pair AUD/USD reached 0.7513, declining 0.31%. As for USD/JPY, this currency pair hit 111.24, soaring 0.14%.

Australia posted CPI figures for the first quarter of a 0.5% ascend, compared with an 0.6% revenue seen quarter-on-quarter as well as 2.1% surge year-on-year, which is below the 2.2% soar expected.

Overnight, the evergreen buck traded lower against a basket of crucial currencies, following the publication of mixed American economic data, while a soar in the common currency weighed on the major US currency.

The common currency hit fresh five-month peaks versus the greenback as market participants piled into the single currency for a second-straight day, right after centrist nominee Emmanuel Macron managed to win the first round of the French presidential election.

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