15th September 2011
The Australian dollar (AUD) has taken a turn for the worse against the US dollar (USD) in this morning's (September 15th) trading.
AUD slumped to a five-week low today, falling to 1.0184 against AUD before regaining some losses and rallying to 1.0234 but still down by 0.47 per cent, Daily Markets reports.
Despite this marginal gain, forex trading remained subdued for the currency, with soft economic data coming from Australia overshadowed by global demand for riskier assets.
A report by the Melbourne Institute revealed inflation expectations in the country rose to 2.8 per cent for September, up from 2.7 per cent in the previous month, and this further added to the currency's sticky start to the day.
Reduced risk sentiment is weighing heavily on AUD at present, making the currency one of the worst performing of the last seven days.
The ongoing eurozone debt crisis has meant investors are seeking safe havens and this has resulted in AUD shedding more than five per cent since September 1st.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.