The Australian dollar rallied against its US counterpart during the Thursday’s trading session. The currency had also attempted to rally against other major peers but has lost its gains versus other currencies, including the euro.
National Australia Bank released its Quarterly Business Survey today, showing an increase of the business confidence index from 1 to 4 in the final quarter of the last year. On Tuesday, the Reserve Bank of Australia left interest rates unchanged but signaled about possibility of an interest rate cut in the future. That led to a huge slump of the Aussie.
AUD/USD was up from 0.7167 to 0.7220 as of 18:01 GMT today. EUR/AUD traded near its opening level of 1.5488 after dropping to 1.5416 intraday.
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