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Australian Dollar Takes Breath

June 28, 2016 at 13:14 by Vladimir Vyun

The Australian dollar gained today amid the improving market sentiment. While the threat of the Brexit is still looming, markets decided to take breath and halted sell-off of high-beta currencies.

There are speculations that Britons may regret their decision to leave the European Union and make attempts to stay in the union. Meanwhile, EU officials urge Britain to leave as fast as possible to limit potential fallout from the event. Whatever the case, market participants have seen that the world is not falling apart (not yet at least) and it is early to panic. Such thinking helped riskier currencies to regain footing.

AUD/USD gained 1.1% from 0.7327 to 0.7405 as of 13:08 GMT today. AUD/JPY jumped 1.4% from 74.72 to 75.79.

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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