The Australian Dollar faced selling pressure, sliding as much as 0.6 percent against the majors, after RBA Governor Stevens said it would “quite some time” before the central bank considered raising interest rates. On the other hand, the central bank chief noted that policymakers are open to further easing if it is deemed beneficial to sustainable growth and once again argued that the Aussie exchange rate needs to fall further.
The Australian dollar resumed its advance following a corrective movement during the European session and is on track to close the day unchanged against the greenback. However, AUD/USD had a volatile day, having risen to a peak of 0.7792 after a much-stronger-than-expected Australian jobs report and fallen to a low of 0.7692 following the release of US retail sales. However, the US currency failed to sustain gains and AUD/USD climbed back to the 0.7760 zone, roughly at the same level it ended yesterday’s NY session.