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Australian Dollar Opens Sharply Higher, Moves Further Up

June 20, 2016 at 8:33 by Vladimir Vyun

Australian dollar billsThe Australian dollar opened sharply higher today and is now trading above the opening level as traders felt less concerned about the possibility of the Brexit.

Traders felt more inclined to purchase riskier currencies as the sentiment shifted and prospects for the Brexit waned. As for domestic fundamentals, the Reserve Bank of Australia will release minutes of its latest policy meeting on Tuesday. The RBA has refrained from cutting interest rates earlier this month, and the minutes may tell whether that was a temporary pause in the rate cut cycle or it is a prolonged period of stable rates.

AUD/USD gained from 0.7432 to 0.7460 as of 8:27 GMT today after closing at 0.37361 on Friday. AUD/JPY went up from 77.82 to 78.01, bouncing from the daily low of 77.38.

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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