Aussie heads south after data
On Tuesday, the Australian dollar retraced earlier weakness notwithstanding downbeat trade as well as building approvals data and the Japanese yen sagged on the finance minister’s comments.
The currency pair AUD/USD was worth 0.7537, tumbling 0.01%, while USD/JPY traded at 102.67, showing a 0.24% rise after Japanese Finance Minister Taro Aso told exchange rates were demonstrating very nervous moves and that he was attentively watching currency movements. Aside from that, Prime Minister Shinzo Abe's government was about to approve ¥13.5 trillion in fiscal measure to boost the economy and also prices.
In Australia, June’s building approvals sagged 2.9%, compared to a 0.5% revenue seen month-on-month as well as the trade balance widened to a deficit of A$3.195 billion right from an expected deficit of about A$2 billion as well as last month’s figure of A$2.418 billion.
Later, New Zealand published inflation expectations for the second quarter, including the previous figure 1.6% quarter-on-quarter. The currency pair NZD/USD was worth 0.7172.