The Australian dollar weakened despite another firmer finish on Wall Street.
At 6.30am AEST the local unit was trading at 95.56 US cents, down from 96.21 cents at yesterday’s local close.
The Australian dollar, a risk appetite currency, usually moves higher if share markets rebound. But it started the local session in weaker territory, after the Dow Jones Industrial Average gained 0.73 per cent and the broad-based S&P 500 added 0.76 per cent.
Traders are taking positions ahead of the US Federal Reserve's Federal Open Market Committee meeting, which is expected to indicate whether the central bank will continue its $US85 billion ($89.22 billion) a month bond buying program, known as quantitative easing (QE).
Source:
http://www.theaustralian.com.au/business/markets/australian-dollar-declines-despite-us-stock-climb/story-e6frg94o-1226665373139
