The Australian dollar is getting annihilated in early European trade, succumbing to a wave after wave of selling pressure as Brexit fears continue to mount.
The AUD/USD currently buys .7351, down 0.72% for the session. Earlier in the day the pair rose to as high as .7434 following the release of Australia’s jobs report for May, something that revealed a healthy increase in employment and steady unemployment rate of 5.7%.
Against the Japanese yen, the Aussie has been thumped and then some, cascading lower in the latter parts of Asian trade.
The AUD/JPY is currently trading at 76.16, down a whopping 3% for the session. It is now at a four-year low.
Here’s the weekly chart below. Geronimo!