The Australian dollar has fallen more than half a cent against its US counterpart with the greenback strengthening amid euro weakness following the release of European Central Bank's policy meeting minutes.
Gold prices have risen for a second day after Federal Reserve officials hinted that US interest rates could rise more slowly than expected, while palladium has been lifted to a fresh 16-year high by strong industrial metals markets.
The outperforming Australian dollar has soared almost one US cent as its counterpart has fallen after US president Donald Trump disbanded two business advisory councils and following Federal Reserve committee minutes.
Gold has risen about one per cent, shaking off two days of losses, as the dollar edged lower after the release of the minutes from Federal Reserve's July meeting at which policymakers voted unanimously to keep US interest rates unchanged.
Oil prices have fallen more than one per cent even though US crude stockpiles declined by the most in a year, as data suggesting domestic production was edging higher stoked worries about the global crude glut.
Gold has fallen nearly per cent, down for a second day after better-than-expected US economic data and easing tensions over North Korea encouraged investors to buy riskier assets, boosting stocks, the US dollar and bond yields.