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Australian Dollar Slips as Trade Deficit Widens Unexpectedly

July 2, 2014 at 10:46 by Vladimir Vyun

Various Australian dollar notesThe Australian dollar weakened today as the nation’s trade balance deficit widened unexpectedly in May, damping optimism for the currency but not erasing it completely.

Australia’s trade gap surged from A$780 million in April to A$1,911 million in May. It was a nasty surprise for Aussie’s bulls who have counted on a decrease to A$160 million. The Australian currency fell as a result but did not erase yesterday’s massive gains.

AUD/USD fell from 0.9495 to 0.9460, and AUD/JPY declined from 96.40 to 95.97 as of 10:46 GMT today.

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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