Australia’s dollar rose to the highest in three weeks after business investment in the nation unexpectedly climbed. The U.S. currency headed for its third-straight decline against major counterparts.
The Aussie rose against all 16 most-traded peers. The greenback weakened as analysts projected data today will indicate the U.S. economy grew at a slower pace than earlier estimated.
“The key thing is that forward-looking investment intentions have been revised up once again,” said David Forrester, a senior vice president for Group of 10 foreign-exchange strategy at Macquarie Group Ltd. in Singapore. “Aussie is going to continue to do well on the crosses.”
Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015