Market News
The Aussie is losing its way as markets' risk compass - REUTERS
By Tom Westbrook and Stella Qiu
Summary
- Aussie shrugs off drop in US stocks
- AUD correlation with risk has slowly declined, according to Westpac
- AUD/USD volume flatlines as global FX trade increases
SINGAPORE/SYDNEY, April 2 (Reuters) - The Australian dollar's surprising resilience in the face of the hit to market sentiment from U.S. tariffs is raising questions whether its long-standing role as a proxy for risk is ending.
The Antipodean currency just notched its steadiest quarter for two years, rising almost 2% this year to around 63 cents, even as U.S. shares (.SPX) have dropped more than 4%.
