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Aussie dips on policy views, shrugs off retail sales

8/4/2017, 10:02:01 AMTrading Strategies
Aussie dips on policy views, shrugs off retail sales

The Aussie dipped on Friday after a central bank view on the economy dimmed upbeat retail sales with the dollar under pressure on a report of stepped up legal activity into allegations Russia colluded to interfere in the U.S. elections.

Australia's central bank will released its monetary policy statement with look at the economy to suggest household debt and a strong currency remain key risks.

As well, retail sales for the second quarter gained 1.5%, beating an expected up 1.2% on quarter gain and at a 0.3% increase, a tick above the 0.2% pace expected on month.

Earlier, Japan reported average cash earnings for June slumped 0.4%, compared with a 0.6% gain seen on year.

USD/JPY changed hands at 110.10, up 0.06%, while AUD/USD traded at 0.7938, down 0.14%.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.01% to 92.69.

Overnight, the dollar hit session lows against a basket of global currencies, on the back of a report that the special counsel overseeing the Russia investigation, has impaneled a grand jury in Washington, to investigate Russia interference in the 2016 elections, The Wall Street Journal reported Thursday.

Mr Mueller's move to empanel the grand jury is a sign that his probe is intensifying and could stretch "for months," according to the newspaper.

This latest development in the Russia saga is likely to add to recent political uncertainty in Washington after The Senate, earlier in July, rejected an amendment to roll back parts of Obamacare.