Aussie Struggles On RBA Statement

Australia’s dollar slumped following the central bank’s signal of keeping low interest rates
The Aussie hit a two-week low followed by the Reserve Bank’s statement of protracted spare capacity in labor markets during the hours of the May meeting.

The euro remained in the vicinity of a three-month minimum against the yen before European Central Bank authorities address at a conference in Frankfurt. This was followed by the presumption that they might relieve monetary policy in the upcoming month. Later in the day, the Bank of Japan commences a two-day meeting. The Thai baht declined the most in two months after the military enforced martial law.

Australian dollar declined by 0.5 %, coming to the level of 92.88 U.S. cents during the London session. It touched the level of 92.85 the lowest since May 6, before consolidating.The euro was hardly affected and traded at 139 .13 against the Japanese currency compared to May 19. The euro hit the level of 138.62, the lowest considering the level since 7th Feb 2014.

While against the dollar, the euro traded at $1.3707 from $1.3709 in New York. The dollar bought 101.49 yen against the Japanese currency from the level of 101.50 on 19th May, when it attained the level of 101.10.