The lack of significant movement in equity markets overnight has translated into a fairly lacklustre Asian trading session today for the pair.
Against the Japanese yen (AUDJPY), however, it’s a slightly different story.
The Aussie and the Kiwi (NZDJPY) have declined against the yen for the first time in five-sessions so far during today’s Asian trading session, amid increasing concerns global economic growth will slow.
Overnight the euro softened against most major counterparts amid speculation the ECB has finished raising interest rates.
The British pound failed to gain ground against the US dollar (GBPUSD) despite the greenback weakening against several major currencies, due in large part to ongoing economic concerns.
A UK business confidence report released last night revealed a sharp drop in August, to negative three.
The yen gained against 12 of its 16 most traded peers amid the latest US confidence numbers which increased demand for safe-haven currencies.