Australian dollarThe Australian dollar resumed its movement down after the yesterday’s gains as consumer sentiment declined this month, reducing attractiveness of the nation’s currency.

The Westpac-Melbourne Institute Consumer Sentiment index fell 3.5 percent in August from July. This declined followed the drop by 8.3 percent in July. The Aussie (the nickname of the Australian currency) also weakened as the pledge of the Federal Reserve to keep interest rates stable hasn’t reduced pessimism among Forex traders.

AUD/USD retreated from 1.0353 to 1.0343 as of 11:51 GMT after jumping to 1.0414 today. AUD/JPY fell from 79.66 to 79.15, following the advance to 80.34.

If you have any questions, comments or opinions regarding the Australian Dollar, feel free to post them using the commentary form below.

Earlier News About the Australian Dollar:

Australian Dollar Attempts Stop Decline, Fails (2011-08-09)

Eighth Session of Suffering for Aussie (2011-08-08)

AUD Down on Economic Outlook Revision (2011-08-05)

Australian Dollar Continues Its Correction on Weak Retail Sales (2011-08-03)

AUD Surges Against Everything on Higher Inflation Numbers (2011-07-27)

This entry was posted on TopForexNews on Wednesday, August 10th, 2011 at 11:51 am and is filed under Australian Dollar. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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