The Aussie Just Got Smashed By Weak Retail Sales And A Big US Dollar Move In Asian Trade

The Aussie dollar saw a little short squeeze yesterday which drove it up to 0.8750 where it was earlier in the day.

But a combination of a much weaker than expected print on the August retail sales of just 0.1% and a strong push higher by the US dollar in Asia which drove USDJPY to 110.07 and gold down to $1204.49 saw the Aussie fall toward the January 2014 low of 0.8660.

So far the print has been 0.8664 but once Europe wakes up there is every chance that the Aussie gets hit again.


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