Market Commentary and Intraday News

Australian Dollar Declines Against Most Majors

263 days ago

(RTTNews) - The Australian dollar weakened against most major currencies in the early Asian session on Tuesday ahead of the Reserve Bank of Australia's interest rate decision due today.

The central bank is expected to maintain interest rates at 3.5 percent.

The aussie fell to near a 6-week low of 1.0226 against the U.S. dollar and a 3-month low of 1.0090 against the Canadian dollar, compared to yesterday's close of 1.0250 and 1.0107, respectively. The next support level for the aussie is seen at 1.02 against the greenback and 1.005 against the loonie.

Against the European single currency, the aussie hit a fresh 2-month low of 1.2320 and the next downside target level for the aussie is seen at 1.24. The euro-aussie pair closed Monday's deals at 1.2293.

The aussie that slipped to 80.11 against the yen earlier rebounded shortly. The aussie-yen pair is now trading near Monday's closing value of 80.22.

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