Aussie weakens broadly

FXstreet.com (Córdoba) – Despite a short-lived recovery, the Australian dollar weakened broadly during the European session and fell to multi-month lows versus major counterparts.

AUD recovery short-lived

The AUD was supported by comments from RBA Deputy Governor Lowe who said that the threshold for currency intervention was fairly high, but gains didn’t last, putting the Aussie back under pressure.

AUD weighed by intervention threaten

The Australian dollar remains in a mid-term downtrend that started last month, with AUD/USD having dropped over 600 pips from Oct 23 high of 0.9656 and now posting its fifth daily loss in a row. Latest comments from RBA Stevens, …read more