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.


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