The Australian Dollar has traded in a wide range again this week as the risk-sensitive currency was rocked by shifting market sentiment.
This saw the Aussie initially strengthen, bolstered by some upbeat Chinese data and coronavirus vaccine optimism.
Also buoying AUD exchange rates were the minutes from the Reserve Bank of Australia’s (RBA) September policy meeting, as the RBA signalled that Australia’s economic downturn has not been as severe as initially expected.
The Aussie sought to strengthen further on Thursday on the back of a surprisingly strong domestic jobs report, which revealed a shock fall in the unemployment rate last month.
However these gains proved to be fleeting, with the Australian Dollar snapping a four-day winning streak as the risk-tone faded and the US Dollar started to strengthen again following the Federal Reserve’s latest policy decision.