Australian dollar rebounds in Asia on trade data
On Thursday, the Australian dollar rebounded during Asia trade, after a narrower than expected trade gap as financial markets digested the latest Fed rate review and cautiously monitored the American presidential election.
The currency pair AUD/USD was worth 0.7677, ascending 0.23%, while USD/JPY traded at 103.25, falling 0.06%. The currency pair GBP/USD leapt 0.13%, being worth 1.2322.
Australia's September trade balance demonstrated a deficit of about A$1.227 billion, which is narrower than the deficit of A$1.7 billion observed. Exports grew A$426 million owing mostly to a 12% soar in coal exports while imports dropped A$244 million due to a 3% descend in consumption-goods imports.
The Federal Reserve announced that the case for a rate lift by the end of 2016 still remains in place as it held rates steady enough as expected.
The US dollar index, traditionally evaluating the greenback’s strength other key currencies, sagged 0.09%, being worth 97.30.