AUD/USD Touches 0.90 after Home Prices and Business Sentiment Climbed

Australia’s dollar reached a four-week high after home prices and business sentiment climbed. The greenback fell against the yen before Federal Reserve Chairman Janet Yellen speaks to U.S. lawmakers today.

Japan’s currency advanced from its lowest level in more than a week against the dollar before reports this week that may show U.S. retail sales stalled and Chinese import growth slowed. The Aussie rose against all its major peers. A gauge of global currency volatility dropped to the least in more than two weeks.

“The house price index continues to tick along nicely, which should be supportive of the household sector, consumption and construction in the Aussie economy,” said Darryl Conroy, a Brisbane-based analyst at Suncorp Group Ltd. “The Aussie will remain range-bound in the 88 to 90-cent level.”

Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.