The Australian dollar sinks back below 70 cents

After a stellar start to the week, recording its largest one-day rally in over three months on Tuesday and pushing to as high as .7070 on Wednesday, the Australian dollar has fallen heavily overnight as a strong JOLTS job report in the US, weakness in US stocks and a surprisingly-dovish Reserve Bank of New Zealand monetary policy statement for September acted in unison to drag the Aussie back below the US 70 cents level.

Currently the AUD/USD buys .6976, down 0.54% from this morning’s New York close. Having traded just above the US 70 cent level just before the RBNZ released its September monetary policy decision earlier this morning, the Aussie was dragged back below the figure as it fell in sympathy with the New Zealand dollar.

The full Aussie dollar scoreboard can be found below.

  • AUD/USD 0.6976 , -0.0038 , -0.54%
  • AUD/JPY 83.97 , -0.53 , -0.63%
  • AUD/CNY 4.4485 , -0.0242 , -0.54%
  • AUD/EUR 0.6218 , -0.0041 , -0.66%
  • AUD/GBP 0.4540 , -0.0025 , -0.55%
  • AUD/NZD 1.1107 , 0.0163 , 1.49%

Looking ahead, Australian employment data for August released at 11.30am AEST, along with the performance of Chinese stocks, will likely dictate how the Aussie fares later in today’s session.

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