Forex
AUD Retreats from Four-Month High Amid Fears of Fed Rate Hike
The Australian Dollar has retreated from its four-month high after touching 0.7220 earlier in the week, as a firmer US Dollar pulls the pair away from this recent peak.
China's planned $54 billion financial sector stimulus package is expected to boost growth, benefiting Australia, which has been trading strongly with China.
The Reserve Bank of Australia (RBA) has also contributed to the AUD's rise by sounding hawkish in its comments, pushing traders to price in a rate hike later this month.