Australian Dollar to Fall on Diminishing Rate Hike Expectations

The Australian Dollar had a particularly disappointing week, losing ground against every major currency, as it fell the most against the safe havens, down 3.61 percent against the Swiss Franc, 2.88 percent against the Japanese Yen, and 0.96 percent against the U.S. Dollar. Broader market sentiment took hold of the antipodean currency this week, as the Aussie sports the highest overnight benchmark interest rate among the major currencies; with the debt crises ramping up in the Euro-zone and the United States, market participants sought have away from risky assets such as the Australian data.