Australian dollar weaker ahead of Trump's meeting

Tuesday, 04/04/2017 | 07:22 GMT

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Aussie weakens further

The Australian dollar dropped, as the nation's central bank held interest rates stable ahead of Trump's, U.S. President, meeting with Xi Jinping.

Australian dollar and U.S. dollar lower to 0.7580

The AUD/USD currency pair traded to 0.7580 declining 0.34% and the USD/JPY reached the 110.43 level falling 0.42%. The U.S. dollar index traded at 100.32 easing 0.04%.

In the meantime, the GBP/USD approached the $1.2466 area, as the sterling lost momentum versus its counterpart the U.S. dollar.

Oil prices rise slightly

Following the dollar's recent weakening, the oil prices climbed slightly, amid the latest pressures in place on the commodities market due to the Libyan matter.

West Texas Intermediate crude oil traded at $50.28 a barrel rising 4 cents while brent crude futures approached the $53.19 zone climbing 7 cents.

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Source: https://www.argusfx.com/en/research-education/market-analysis/news/australian-dollar-weaker-ahead-of-trump-s-meeting

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