The Australian Dollar dropped to the lowest level in close to four years against its major counterparts but prices launched a sharp recovery against the backdrop of a late-week rebound in risk appetite, erasing more than half the decline.
Currency traders in Australia and globally were awaiting the crucial speech by US Federal Reserve chair Janet Yellen - due to be delivered early on Thursday morning, eastern Australian time - which has the potential to inflict wild swings on both the ...
The past week on the foreign exchange markets has been mixed in terms of its overall effect on the Pound Sterling. While sizable gains have been recorded by the GBP, it has also plunged against the Australian Dollar (AUD) and other currency peers.
An impressive rally that had pushed the Australian dollar to a one-month high ran out of steam during Friday's session, after soft local retail data sparked some caution ahead of a closely watched US jobs report.