But those losses were tempered by the Aussie reversing early losses. The currency was propelled higher by an October manufacturing uptick in China, with whom Australia shares strong trade and commerce relations. Speculation is mounting about when the U.S. Federal Reserve will taper stimulus measures, which is likely to impact the performance of the Aussie.
"Comments from Fed speakers today will carry a lot of weight for the U.S. dollar and how it trades in the short term," market strategist Stan Shamu with IG Ltd. in Melbourne told the news source on Friday. "The unwind of U.S. dollar shorts might impact risk trades" amid the increasingly likelihood of tapering stimulus measures this year, with expectations of trimming stimulus this year rising slightly, the market strategist told the publication.
The Aussie managed to eek out gains of about 0.2 percent against the greenback as weekly losses check in at roughly 1.1 percent.
New home sales in Australia in September climbed more than 33 percent, notating the largest climb in more than 11 years, according to The Wall Street Journal.
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