AUD to USD Exchange Rate Hikes, Safe-Haven Currencies Dip

AUD to USD Exchange Rate Hikes, Safe-Haven Currencies Dip

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.