The Australian dollar increased against the US dollar on Monday. The current exchange rate for AUDUSD stands at 0.6578.
The Aussie remains in a sideways movement globally. A month ago, AUD was at approximately the same level. An unexpectedly strong US employment report reduced anticipation that the Federal Reserve may initiate a monetary policy easing phase as early as June, allowing currencies other than the USD to stabilise their positions.
Australian statistical data showed that new home loans grew less than forecasted in February. The construction of new homes slowed down, which appeared to impact the bank’s lending parameters. The Reserve Bank of Australia’s interest rate remains at a twelve-year high of 4.35% per annum. At the last meeting, the RBA left it unchanged for the third consecutive time but refrained from wording suggesting an increase in the rate.
Origin: RoboForex
