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Forex News: Australian Dollar Rises Against Majors

Australian Dollar Rises Against Majors

07/08/2024 - 03:14:00 (RTTNews)

(RTTNews) - The Australian dollar strengthened against other major currencies in the Asian session on Monday.

The Australian dollar rose to nearly a 2-week high of 1.6026 against the euro, from Friday's closing value of 1.6051.

Against the U.S. and the Canadian dollars, the aussie advanced to a 7-month high of 0.6762 and nearly a 1-1/2-year high of 0.9214 from Friday's closing quotes of 0.6749 and 0.9205, respectively.

Against the yen and the NZ dollar, the aussie edged up to 108.52 and 1.0991 from last week's closing quotes of 108.47 and 1.0981, respectively.

If the aussie extends its uptrend, it is likely to find resistance around 1.59 against the euro, 0.68 against the greenback, 0.93 against the loonie, 109.00 against the yen and 1.10 against the kiwi.

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