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Australian dollar rises for fourth straight day as AUD/USD holds gains
AUD/USD was last near 0.7218 after rebounding from 0.7194, while US markets were thinned by the Labour Day holiday.
The Australian dollar extended its advance for a fourth straight session, with AUD/USD rising 0.22% versus the US dollar amid thin trading as US markets were closed for the Labour Day holiday, FXStreet reported. The pair was last around 0.7218, after bouncing from daily lows near 0.7194. FXStreet also cited a softer US dollar backdrop, noting the US Dollar Index slipped 0.26% to 98.90. Trading sentiment was described as mixed after Monday’s European equity session, with FXStreet pointing to escalating US-Iran tensions and a near finalization of an Oman deal related to a temporary safe route through the Strait of Hormuz. Looking ahead, FXStreet highlighted Australia’s upcoming Westpac Consumer Confidence release for September and scheduled RBA appearances by Assistant Governor Sarah Hunter and Deputy Governor Andrew Hauser, while the US calendar includes inflation data, jobless claims, and the University of Michigan consumer sentiment survey. The outlet also said technical factors kept the pair biased higher as long as it holds above the 0.72 area and the broader support near the mid-0.70s.
Latest closeDollar index 99.58 ▼0.1%