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Forex News: Australian Dollar Drops Against Majors

Australian Dollar Drops Against Majors

03/06/2023 - 23:17:00 (RTTNews)

(RTTNews) - The Australian dollar weakened against the other major currencies in the Asian session on Tuesday.

The Australian dollar fell to a 2-1/2-month low of 1.5964 against the euro and more than a 3-week low of 91.06 against the yen, from yesterday's closing quotes of 1.5865 and 91.42, respectively.

Against the U.S., the Canada and the New Zealand dollars, the aussie dropped to more than a 2-month low of 0.6693, an 8-day low of 0.9115 and a 5-day low of 1.0801 from yesterday's closing values of 0.6729, 0.9159 and 1.0855, respectively.

If the aussie extends its downtrend, it is likely to find support around 1.62 against the euro, 89.00 against the yen, 0.66 against the greenback, 0.89 against the loonie and 1.07 against the kiwi.

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