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European open: Aussie dollar claws back some losses, light data in Europe

FXstreet.com (London) – The Australian dollar clawed back its losses overnight after briefly hitting three-month lows at USD0.9089 on declining appetite for the Aussie dollar as a proxy for risk. The Aussie dollar recovered to trade in a tight range between USD0.9130. The pair is currently trading at USD0.9134.

The Aussie dollar also hit five-year lows against the New Zealand dollar at NZD1.1118 on diverging central bank monetary policy expectations and higher-than-expected New Zealand export numbers at NZD4.25bn versus market expectations of NZD4bn. The pair has climbed back to NZD1.1142 on choppy trading.

Today sees another quiet day on the data front …read more