On Thursday, the AUD to USD exchange rate hiked while safe-haven currencies posted declines.
Accordingly, the aussie surged 0.40% to $0.72, rebounding from its plunge of 0.84% yesterday.
The recent increase of the AUD to USD exchange rate came in after the bounce of iron core prices.
Moreover, Australia’s building approval rose to 6.80% month-on-month from the previous rate of -8.60%.
Also, it is way higher than the market expectations of -5.00%, which turned out to be bullish for the AUD.
Consequently, the private sector credit weakened to 0.60% from July’s data of 0.70%.
Meanwhile, most of the safe-haven currencies declined as risk-off sentiment eased.
The American dollar, which is the best safe-haven currency, retreated from its rally this week.
Furthermore, the US dollar index, which tracks the greenback against a basket of other currencies, diminished 0.07% to $94.29.
Consequently, the Swiss franc tumbled 0.11% to $0.93, reversing its Wednesday gain of 0.60%.
Then, the yen shed 0.04% to $111.92 after the Japanese retail sales posted at -3.20% from the previous figure of 2.40%.
Accordingly, other currencies were mixed as the GBP to USD exchange rate moved higher.
The New Zealand dollar improved 0.22% to $0.69, while the Canadian dollar fell 0.23% to $1.27
Then, the Singapore dollar hiked 0.04% to $1.36 as the Hong Kong dollar rose 0.02% to $7.79.
Likewise, the Malaysian ringgit edged up 0.08% to $4.19 as the Indonesian rupiah soared 0.21% to $14,320.
The Chinese yuan decreased 0.09% to $6.46 as the South Korean won curtailed 0.24% to $1,184.28.
GBP to USD Exchange Rate Up as the AUD Bounces
Furthermore, the GBP currency edged higher as the AUD to USD exchange rate rebounded.
Subsequently, sterling extended 0.14% to $1.34 as the UK gross domestic product boosted to 23.60% from the previous of -5.80%.
Similarly, the euro to dollar exchange rate edged up 0.03% to $1.16.
On the other hand, other European currency pairs traded lower in the market.
For instance, the EUR/CHF pair stumbled 0.06% to $1.08 as the EUR/AUD pair sank 0.33% to $1.61.
The EUR/NZD pair reduced 0.06% to $1.69 as the USD/RUB slumped 0.28% to $72.64.
Similarly, the USD/SEK pair slashed 0.19% to $8.79 as the USD/DKK pair minimized 0.07% to $6.41.