Aussie Dollar Firms as US Dollar Softens Before Retail Sales
AUD/USD edged higher on Friday as hawkish RBA commentary supported the Australian dollar while markets awaited US retail sales data.
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The Australian dollar strengthened modestly against the US dollar on Friday. Hawkish comments from a Reserve Bank of Australia assistant governor helped support the Aussie, while the greenback lost ground heading into the US retail sales release.
The move leaves AUD/USD biased higher in the short term, though the upcoming US data could shape the next leg. Traders are watching the retail sales figures for further cues on US consumer demand and dollar direction.
Source: FXStreet Forex News