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Australian dollar slides as US dollar retreats on weaker risk mood

AUD/USD was at 0.6960 after a 0.11% drop, while the US Dollar Index fell 0.13% to 102.11 as US Treasury yields declined.

Reported · Written up by our desk · Major Pairs

The Australian dollar slid 0.11% on Thursday as the US dollar retreated from monthly highs, according to FXStreet. At the time of writing, AUD/USD traded around 0.6960 after safe-haven flows shifted away from the greenback toward the Japanese yen and the Swiss franc.

FXStreet said the broader market mood turned downbeat as tech stocks fell following a report that OpenAI’s annual revenue came in $20 billion below expectations, pulling down major AI stocks. The US dollar weakened alongside US Treasury yields, which also fed into the move lower in the dollar.

The US Dollar Index, which tracks the dollar versus six currencies, drifted down 0.13% to 102.11, the outlet added. FXStreet also pointed to remarks from two Federal Reserve officials, with Governor Christopher Waller indicating further rate hikes could be appropriate but not necessarily in consecutive meetings, while St. Louis Fed’s Alberto Musalem argued inflation remains high and the jobs market offers signals for curbing persistently elevated inflation.

Latest closeDollar index 102.12 ▼0.1%

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