20 Jul 2015
AUD/USD fails to rise above 0.7400, remains under pressure
FXStreet (Córdoba) - The Australian dollar is trading around the same level it closed on Friday against the US dollar, after moving from multi-year lows to test the 0.7400 area.
Again at multi-year lows
During the Asian session, the sharp decline for gold prices pushed AUD/USD to the downside. The pair bottomed at 0.7327, the lowest level since May 2009. Afterwards rebounded as gold trimmed losses, but the recovery lost momentum before reaching 0.7400.
During the US session greenback gained momentum against commodity currencies and AUD/USD dropped toward 0.7350. Currently it stands at 0.7370, flat for the day.
The outlook remains positive for the US dollar amid expectations of a rate hike in the US. On Tuesday the Reserve Bank of Australia will release the minutes of its latest meeting.
Again at multi-year lows
During the Asian session, the sharp decline for gold prices pushed AUD/USD to the downside. The pair bottomed at 0.7327, the lowest level since May 2009. Afterwards rebounded as gold trimmed losses, but the recovery lost momentum before reaching 0.7400.
During the US session greenback gained momentum against commodity currencies and AUD/USD dropped toward 0.7350. Currently it stands at 0.7370, flat for the day.
The outlook remains positive for the US dollar amid expectations of a rate hike in the US. On Tuesday the Reserve Bank of Australia will release the minutes of its latest meeting.