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Felicia Tan
in
Forex
June 15 20:36

AUD/USD dropped 1% to $0.6793

Disappointing data on industrial production and retail sales in China in May did not help these currencies, while the pair USD/CNY rose by 0.2% to 7.0975.
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Both currencies - AUD and New Zealand dollars - are traded as liquid indicators of risk sentiment and because of their close ties with the Chinese economy and world commodities.

China's industrial production grew only 4.4% YoY, while retail sales declined 2.8% YoY.
GBP also weakened in anticipation of a meeting between British and European officials to discuss the next steps in the negotiations on Brexit.
The Bank of England is scheduled to meet this Thursday and is expected to increase its quantitative easing program by about £100bn ($125bn), with some forecasts suggesting an even larger program as the British economy struggles to recover from virus epidemic. The previous week, the Organisation for Economic Co-operation and Development (OECD) warned that Britain would take the biggest blow, partly because of the higher business services share in its GDP.
GBP/USD fell by 0.6% to 1.2468, while EUR/GBP rose by 0.4% to 0.9012.