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.”
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 firstname.lastname@example.org. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.