Australia’s dollar matched a two-week high after the Reserve Bank left the benchmark rate unchanged and said there has been improvement in the job market.
New Zealand’s currency climbed for a sixth day against the greenback, matching the longest streak in a year, ahead of data tomorrow that may show unemployment fell to the least in four years. The U.S. dollar was at a three-week low versus major counterparts with foreign-exchange volatility near a seven-year low before Federal Reserve Chair Janet Yellen testifies to lawmakers tomorrow.
The RBA statement “seems to have a slightly more positive tone, particularly on the labor market,” said Divya Devesh, a Singapore-based foreign-exchange analyst at Standard Chartered Plc. “In the near-term at least, I think the Aussie will remain supported at these levels.”
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.