The intense decline in the US Dollar (USD) bolstered risk-associated assets once again on Thursday, lifting AUD/USD to the area above the 0.6600 mark for the first time since late January.
AUD/USD advances to five-week highs past 0.6600. Further weakness in the Greenback sustains the pair’s upside. Australian Balance of Trade figures came in a tad below estimates. The intense decline in the US Dollar bolstered risk-associated assets once again on Thursday, lifting AUD/USD to the area above the 0.6600 mark for the first time since late January.
Apart from the negative sentiment surrounding the US Dollar, the upbeat sentiment in the commodity market also contributed to the Aussie's strength on Thursday, particularly following the improvements of both prices of copper and iron ore Looking at the broader scenario, developments in China are poised to impact the AUD: Potential stimulus measures in China might offer temporary relief, but a sustained improvement of economic indicators is essential for bolstering the Australian currency...
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