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Australian Dollar Advances Against Majors

2/27/2012 10:59 AM ET

The Australian dollar traded higher against major currencies during New York morning deals on Monday.

After touching a 4-day low of 1.0656 in early European session, the Aussie reversed its direction against the US dollar in today's New York morning and as of now trading near 1.0746. On the upside, 1.0757 is seen as the next target level for the Australian currency.

Extending its previous session's uptrend, the Aussie advanced further against its Canadian counterpart in North American morning deals. At present, the Australian unit is trading near a new multi-day high of 1.0738 versus the loonie, which may be compared to last week's closing value of 1.0697.

Against the euro and the New Zealand dollar, the Australian currency also edged up further in today's New York morning session. The Aussie is currently trading near 1.2491 against the euro and 1.2823 versus the kiwi from previous session's lows of 1.2619 and 1.2790, respectively.

by RTT Staff Writer

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