Australia markets closed


CCY - CCY Delayed price. Currency in INR
Add to watchlist
73.5380-0.0620 (-0.08%)
At close: 1:24PM BST
Full screen
Previous close73.6
Day's range73.53 - 73.538
52-week range70.3660 - 77.7550

    Dollar Weakens as Economic Data Improves

    The dollar edged lower in early European trade Friday, with volumes hit by the U.S. holiday and traders weighing the conflicting influences of positive economic data and the increasing number of coronavirus cases. Economic data released earlier Friday pointed to a brisk pickup in the Chinese service sector, with the Caixin Services Purchasing Managers Index coming in at 58.4 in June, the highest reading in two months. “Fed money printing has now secured what seems to be a stable negative correlation between risk assets and the dollar,” said analysts at ING, in a research note.


    Dollar Consolidates After Hitting 3-Week High on Trade Hopes -- The dollar was consolidating in early trade in Friday after surging to a three-week high on Thursday in response to growing confidence that the economically damaging tariffs enacted by the U.S. and China on each other’s products will be reversed.