The Australian dollar fell against its most-traded rivals after the release of mixed domestic macroeconomic data. Surprisingly, the Aussie managed to gain on the Japanese yen.
The business confidence reported by the National Australia Bank fell from +7 to +4 in August. At the same time, the business conditions improved from +13 to +15.
Markets were in a risk-off mode today, favoring safer currencies and putting pressure on riskier ones, therefore it is surprising to see the Aussie trading higher versus the yen.
AUD/USD edged down from 0.7112 to 0.7100 as of 17:21 GMT today, touching the low of 0.7085 — the lowest level since February 2016. At the same time, AUD/JPY rallied from 79.03 to 79.24, reaching the high of 79.49 intraday.
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Australian Dollar Falls with Business Confidence
