The Australian Dollar experienced volatility again this week in response to fluctuating market sentiment.
AUD exchange rates initially rallied on the back of some positive Chinese trade figures, as well as a stronger-than-expected print of Australia’s business confidence index in August.
However, the Australian Dollar then suffered a sharp sell-off through Tuesday’s trading session as Brexit jitters and a plunge in US equity markets saw investors favour safe-haven assets.
The ‘Aussie’ was further dented by the news that trials for a promising coronavirus vaccine had been halted after a participant reportedly suffered an adverse reaction.
However, the Australian Dollar reversed its decline in the latter half of the week, with an improvement in market sentiment and broad sell-off of the US Dollar allowing AUD to claw back its losses.