EncoreFX’s daily market updates are written by our experienced and professional dealing team.
Author: Dennis Li
We saw the AUD/USD down by more than 40 points yesterday afternoon very soon after Westpac announced a lift in its variable home loan rates weighing on domestic confidence and it fell further with a stronger greenback overnight coupled with a decline in emerging markets economic outlook. It did bounce back to its key support of 0.7300 but looks under increasing pressure. Meanwhile the AUDGBP fell by 1.70% overnight suffering its biggest one-day drop in nearly one year after the EU made favourable offerings to the UK around Brexit. The AUDEUR also lost 0.5% in a data free night.
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