Risk aversion causes AUD to slip against currency rivals
- Last Updated on 09 February 2012
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The Australian dollar had a particularly bearish day yesterday, after poor euro-zone news sent investors to safe-haven currencies like the US dollar and Swiss franc. The AUD/USD slipped over 100 pips throughout the European trading session, while the AUD/CHF dropped some 50 pips before staging a mild correction.
Turning to today, traders will want to note any news out of the euro-zone which could cause the aussie to slip even further. Should Greece once again fail to reach a debt swap deal with its creditors, riskier currencies like the AUD could see further bearish momentum. At the same time, any positive international data is likely to boost confidence in the global economic recovery, which could result in a boost for the AUD.