Australian dollar slumps in Asia on RBA minutes housing worries

Australian dollar slumps in Asia on RBA minutes housing worries

On Tuesday, the Australian dollar held weaker in Asia, following the major bank minutes of the June gathering meeting, which demonstrated some risk scope on housing.

The currency pair AUD/USD reached 0.7588, sinking 0.14%. As for USD/JPY, this currency pair hit 111.68, soaring 0.13%.

Assessing the US dollar’s value versus six crucial currencies, the US dollar index descended 0.03%, demonstrating 97.20.

Overnight, the American currency grew to session peaks versus crucial currencies right after a top Fed official stoked hopes for an extra rate lift in 2017, telling that soaring wages would help to raise inflation closer to the Fed’s objective.

As expected, the major US financial institution lifted its key interest rate by 0.25% on Wednesday, thus dropping a hint at another rate hike later in 2017.     

The greenback kept straightening versus the Japanese yen as traders continued fleeing safe-haven yen in the wake of the BOJ’s evident reluctance to taper emergency stimulus for the Japanese economy.

 

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