Daily Morning Report 06.06.2018

The dollar fell below the 94 level in morning trade on Wednesday, while its Australian counterpart got a lift from upbeat growth data that beat expectation.

The AUDUSD pair gained 0.47% to 0.7652. The Aussie was supported by Australia’s GDP growth figure, which rose 1% on the quarter in 2018’s first three months, beating the estimated 0.8%. On an annualized basis, growth was 3.1%, above both the expected 2.8% and the previous quarter’s 2.4% gain.

In Japan, the yen was lower against the dollar, with USDJPY trading at 109.84. Official data showed on Wednesday that Japanese workers’ real wages were unchanged in April from the same period last year, compared to a revised 0.7% annual increase in March.