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AUD/USD rises above 0.8700 and erases losses

FXStreet (Córdoba) - AUD/USD jumped from 0.8665 tp 0.8706 in a few minutes, reaching a session high. Earlier dropped to 3-day low at 0.8647, after the US retail sales report.

A decline of the US dollar across the board pushed the pair to the upside, that erased daily losses as it currently trades at 0.8704/07, around the same price it closed yesterday.Greenback dropped sharply in the market in the last hour, particularly against commodity; gold jumped from $1,150/oz to $1,170.

AUD/USD up for the week

Now the aussie is positive for the week versus the US dollar, rising a modest 70 pips, but so far the best performance in months. Last Friday, AUD/USD posted the lowest weekly close since June 2010.

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USD/CHF falters ahead of 0.9700 and erases gains

USD/CHF retraced intraday gains and dipped back to negative territory for the day as the dollar was heavily sold-off despite encouraging economic data.
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