Aussie Loses Momentum in Forex Trading
by Trader Rich
Gold prices fall, bringing Aussie down as well
Aussie is losing momentum in forex trading today, falling as risk appetite disappears. Riskier assets are lower on the currency market today, and that includes the Australian dollar.
With concerns in Europe weighing on the markets, it is little surprise that the Aussie, along with the euro, is heading lower. The Australian dollar is also under additional pressure as gold prices fall and lead Aussie lower.
As a commodity currency dependent on gold for some of its support, the Australian dollar is susceptible to drops in gold, and gold is pulling back today.
- Aussie in Forex Trading
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