SYDNEY, July 31 (Reuters) – The Australian dollar steadied near a two-year peak on Monday, on track for its best monthly performance since January, while its New Zealand counterpart was set for a third straight month of gains.
The Australian dollar stood at $0.7982, not far from $0.8066 touched on Thursday – its highest since May 2015. The Aussie climbed about 0.9 percent last week and has added 3.8 percent this month so far.
Underpinning sentiment were solid data on the Chinese economy and an 8 percent jump in futures for iron ore, Australia‘s single biggest export earner.
The RBA will hold its monthly policy meeting on Tuesday, at which it is widely expected to keep rates at 1.50 percent after last easing a year ago.
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.