News Column

Australian Dollar Extends Gain Against Majors

August 26, 2014

CANBERA (Alliance News) - The Australian dollar proceeded with its early rally against the other major currencies in European deals on Tuesday.

The aussie rose to a 1-week high of 0.9330 against the greenback and a multi-month high of 1.4145 against the euro, off early 5-day low of 0.9271 and a 4-day low of 1.4221, respectively.

The aussie advanced to near a 3-week high of 1.0225 against the loonie and near a 9-month high of 1.1185 against the NZ dollar, after having declined to 1.0193 and 1.1131, respectively in prior deals.

The Australian currency strengthened to 96.92 against the yen, from an early 4-day low of 96.46.

If the aussie continues its strength, it may find resistance around 0.94 against the greenback, 98.7 against the yen, 1.40 against the euro, 1.125 against the kiwi and 1.03 against the loonie.

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Source: Alliance News

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