The Australian dollar climbed today thanks to helpful fundamentals, like the rise of crude oil prices and the weakness of the US dollar.
Yesterday’s speech from Federal Reserve chief Janet Yellen showed cautious stance of US policy makers, which was detrimental to the greenback and beneficial to other currencies. Also released yesterday, minutes of the Reserve Bank of Australia policy meeting demonstrated a neutral stance in regards to monetary policy. As for today’s events, the rally of crude oil and the improving Westpac-Melbourne Institute Leading Index played in favor of the Australian currency.
AUD/USD climbed from 0.7447 to 0.7512 as of 13:02 GMT today, trading near the highest level since the beginning of May. AUD/JPY advanced from 78.01 to 78.54.
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