Australian dollar rises

dollar51The Australian dollar has extended its gain against its US counterpart as the greenback weakened.

At 0635 AEST on Tuesday, the Australian dollar was worth 79.38 US cents, up from 79.20 US cents on Monday.

Westpac’s Imre Speizer said the offshore session had been a quick session, but both the US dollar and Treasuries (bonds) had fallen despite a lack of news.

“The US dollar index is down 0.3 per cent on the day. The AUD rose from 0.7910 to 0.7951,” Speizer said in a Tuesday morning note.

“Positive momentum could take the AUD above 0.7960 today if the USD remains depressed.”

The local currency is also higher against the yen but lower against the euro.

AAP

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.

 

Comments

Comment Manually

Inside Retail Polls

Schwarz Group, Aldi and the big two
How will the Aussie entry of either Kaufland or Lidl impact the supermarket industry?

Inside Retail Directory

Twitter

Submit your entry today in one or more of the award categories for the 2018 #RetailerAwards! #InsideRetailLivehttps://t.co/wM0I8OM7Fq

13 hours ago

Latest banknote designed to protect against counterfeiting. https://t.co/fbme8U61Ty

14 hours ago

Department store giant stumbles in turnaround. https://t.co/LF2WNjUo1N

14 hours ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered