AUD rally decelerates after reaching 1.5-year high: ASX closes 0.2% lower
31 Aug 2020 – The Australian share market finished lower despite promising signs of an afternoon rally after midday. Meanwhile, the Australian dollar reached a 1.5-year high this morning, surpassing the 73.8 cent mark for the first time since December 2018. This was a response to the release of private sector profitability and borrowing data. However, the rally decelerated after Midday, on the back of the US dollar strengthening.
Source: Finance News Network