The Australian dollar dropped today, reaching the lowest level since 2010 against its US counterpart, as growth of housing loans slowed in April and trailed analysts’ forecasts.
Australian dwelling finance commitments rose 0.8 percent in April from March, when growth was at 4.8 percent. The median forecast was at 2.1 percent. The Aussie, as the Australian currency is nicknamed, fell against other majors, including the yen, which was bolstered by the Bank of Japan policy decision.
AUD/USD sank from 0.9461 to 0.9368 as of 13:37 GMT today and its daily minimum of 0.9324 was weakest since September 2010. AUD/JPY dropped from 93.43 to 90.68.
If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.