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5 Feb 2015
AUD/USD dips back below 0.7800
FXStreet (Córdoba) - AUD/USD failed to sustain gains above 0.7800 and pulled back at the beginning of the American session, trimming intraday gains.
The Australian dollar reached a daily high of 0.7823 versus the greenback, but lacked follow-through and retreated toward the 0.7780 area in recent dealings. At time of writing, the pair is trading at 0.7790, still up 0.52% on the day.
AUD/USD remains vulnerable with the downside exposed in the long term amid divergent policies from the RBA and the Fed, with the Australian bank cutting rates to a record low of 2.25% on Tuesday, even when AUD/USD managed to take back post-decision losses.
The Australian dollar reached a daily high of 0.7823 versus the greenback, but lacked follow-through and retreated toward the 0.7780 area in recent dealings. At time of writing, the pair is trading at 0.7790, still up 0.52% on the day.
AUD/USD remains vulnerable with the downside exposed in the long term amid divergent policies from the RBA and the Fed, with the Australian bank cutting rates to a record low of 2.25% on Tuesday, even when AUD/USD managed to take back post-decision losses.