Australian Dollar Showing Choppy Trend Against Majors

Australian Dollar Showing Choppy Trend Against Majors


The Australian dollar moved in choppy trend against its major rivals in early Asian deals Wednesday as traders likely remaining reluctant to make any significant moves ahead of remarks by Federal Reserve Chairman Ben Bernanke at the Kansas City Federal Reserve's Jackson Hole symposium on Friday.
The Australian dollar that fell to an 8-week low of 1.2130 against the euro at the beginning of the session snapped back above yesterday's closing quote of 1.2113 in mid-morning deals. The trend for the aussie was choppy since then, trading between 1.2125 and 1.2115.
The Australian dollar failed to make any significant headway against the rest of majors, moving in tight ranges of 81.57- 81.43 against the yen, 1.2903-1.2886 against the NZ dollar and 1.0378-1.0365 against the US dollar in most of the early Asian session.


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