Asian Stocks Weaken, Australian Dollar at $0.707

Author : Berita Valas | Published On : 17 Jun 2026

Asian market sentiment weakened on Wednesday after a strong rally in recent sessions began to trigger profit-taking. In Australia, the S&P/ASX 200 index fell slightly to near 8,900, with weakness in energy and technology stocks partly offset by gains in gold mining and banking stocks.

The Australian dollar traded around $0.707. This movement occurred as global markets received mixed signals from Wall Street, with the Nasdaq and S&P 500 weakening, while the Dow Jones Industrial Average set a new closing record.

Market participants are also awaiting the Federal Reserve's monetary policy announcement. Interest rates are expected to remain unchanged, but the policy statement and comments after the meeting could influence expectations for the direction of US interest rates.

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