Australian dollar rises

dollar14The Australian dollar is higher against its US counterpart which slipped overnight following a small fall in US treasury yields.

At 0630 AEDT on Thursday, the Australian dollar was worth 77.95 US cents, up from 77.85 US cents on Wednesday.

The Australian dollar rose past 78 US cents in morning trade on Wednesday, boosted by the most optimistic Westpac consumer confidence reading in more than a year.

But the local currency eased in the afternoon and it ended the local session marginally weaker.

Westpac’s Imre Speizer said the US dollar slipped 0.3 per cent overnight following a small fall in US treasury yields due to dovish Fed speak from central banker Charles Evans who wondered whether more accommodation was needed to reach two per cent inflation.

“But those yields did rebound a bit later on ahead of the FOCM (Federal Open Market Committee) minutes which themselves had little market impact,” Speizer said.

The Aussie dollar on Thursday is higher against the Japanese 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

Loading...

Inside Retail Polls

The Amazon effect...
What impact will the e-commerce giant have on Aussie retail?

Inside Retail Directory

Twitter

Food and beverage retailer focuses on next phase of growth https://t.co/9Hw2fl1NTC

8 hours ago

Aussie retailers must reignite product development for consumer acknowledged differentiation or they are dead https://t.co/xPghbMg5tm

9 hours ago

Fast fashion giant locks in fifth Victorian opening https://t.co/iAT3JrXmvw

9 hours ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered