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Forex News: Australian Dollar Retreats Against Majors

Australian Dollar Retreats Against Majors

05/31/2017 - 01:37:00 (RTTNews)

(RTTNews) - The Australian dollar retreated from recent highs against the other major currencies in the Asian session on Wednesday.

The Australian dollar fell to nearly a 4-month low of 1.0489 against the NZ dollar, from an early high of 1.0538.

Against the U.S. dollar and the yen, the aussie dropped to 0.7447 and 82.66 from an early 6-day high of 0.7476 and a 2-day high of 82.95, respectively.

Against the euro and the Canadian dollar, the aussie slipped to 1.5004 and 1.0024 from early highs of 1.4943 and 1.0059, respectively.

If the aussie extends its downtrend, it is likely to find support around 1.03 against the kiwi, 0.73 against the greenback, 80.00 against the yen, 1.51 against the euro and 0.99 against the loonie.

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