Forex – Aussie higher, near 3-week peak vs. softer greenback


Aussie rises against greenback, eyes on Stevens remarksAussie rises against greenback, eyes on Stevens remarks – The Australian dollar was higher against its U.S. counterpart on Monday, reapproaching a three-week peak as uncertainty over the timing of a U.S. rate hike continued to weigh on the greenback.

AUD/USD hit 0.7828 during late Asian trade, the session high; the pair subsequently consolidated at 0.7816, advancing 0.37%.

The pair was likely to find support at 0.7667, the low of April 16 and resistance at 0.7907, the high of March 25.

Sentiment on the greenback remained vulnerable as investors pushed back expectations for higher U.S. interest rates after a recent string of soft economic data dampened optimism on the country’s recovery.

The Aussie was steady against the New Zealand dollar, with AUD/NZD at 1.0126.

Markets shrugged off a report by Statistics New Zealand showing that consumer prices slipped 0.3% in the first quarter, compared to expectations for a 0.2% downtick and after a 0.2% fall in the three months to December.

Year-over-year, New Zealand consumer prices rose 0.1% in the last quarter, confounding expectations for a 0.2% gain, after a 0.8% increase in the previous quarter.

Later in the day, Reserve Bank of Australia Governor Glenn Stevens was to speak at an event in New York.

Source By Breaking News Website | BreakingNews.WS