The Australian dollar stumbled on Friday before the speech of Reserve Bank of Australia Governor Glenn Stevens at a lunch to be held by the American Chamber of Commerce in the country.
The Aussie traded at 76.67 US cents from Thursday’s 77.30 US cents. Against the euro and the Japanese yen, it ended at 71.86 euro cents and ¥92.54, respectively.
The market hoped they could gain “about the RBA’s proclivity to cut rates again and how soon,” said Ray Attrill, Global Co-head of Foreign Exchange Strategy at National Australia Bank.
The material has been provided by InstaForex Company – www.instaforex.com