Aussie Sees Mild Gains amid Risk Taking

Submitted by Forexyard on Thu, 26/04/2012 - 10:28
in

The Australian dollar saw gains against several of its main currency rivals yesterday, following an increase in investor risk taking. The AUD/USD was up close to 40 pips during the European session, reaching as high as 1.0345.

Against the British pound, the aussie gained over 100 pips for the day, following worse than expected news out of the UK. The GBP/AUD dropped as low as 1.5546 during morning trading.

Turning to today, traders will want to pay attention to news out of the US, as it is likely to dictate the level of risk taking in the marketplace. Positive indicators could cause the AUD/USD to reverse yesterday's gains.

At the same time, should the US news generate additional risk taking in the marketplace, the aussie could see gains vs. the safe-haven Japanese yen. 

 

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