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Fundamentals Do Not Favor Aussie

February 28, 2014 at 10:10 by Vladimir Vyun

Australian coins and banknotesThe Australian dollar slipped today, falling against the Japanese yen, as most fundamentals were not in favor of risk-related currencies. The Aussie was almost flat against its US counterpart, which was hurt by poor economic reports from the United States.

There are plenty of reasons for riskier currencies, and the Australian one in particular, to fall. The general risk negative sentiment of the Forex market is one of such reasons, while prospects for continuing tapering by the US Federal Reserve is another. Domestic economic data was not helping either as it shows that country’s economic growth is feeble.

AUD/USD slipped a bit from 0.8964 to 0.8958 as of 10:10 GMT today. AUD/JPY declined from 91.53 to 91.21, touching the low of 90.80 intraday.

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

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