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Australian Dollar Joins Rally of Commodity Currencies

December 27, 2017 at 12:27 by Vladimir Vyun

David Unaipon on Australian 50-dollar billThe Australian dollar rose today, joining the other commodity currencies in the rally during holiday-thinned trade.

Markets can act erratically during holidays, and today’s trading was a proof of that. There were no discernible reasons for commodity currencies to rally. In fact, quite the opposite was true as the sharp drop of crude oil prices should have dragged such currencies down. Yet that was not the case as currencies of Australia, Canada, and New Zealand enjoyed solid performance during the Wednesday’s trading.

AUD/USD rallied from 0.7726 to 0.7771 as of 12:25 GMT today. AUD/JPY gained from 87.48 to 87.96.

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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