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Australian Dollar Rises Against Majors

The Australian dollar strengthened against the other major currencies in the Asian session on Monday.

The Australian dollar rose to nearly a 1-month high of 0.7729 against the U.S. dollar and nearly a 4-1/2-month high of 1.0294 against the Canadian dollar, from Friday's closing quotes of 0.7702 and 1.0275, respectively.

Against the euro, the aussie advanced to 1.3923 from an early low of 1.3963. This may be compared to an early 4-day high of 1.3922.

The aussie edged up to 87.00 against the yen, from an early 1-week low of 86.59.

If the aussie extends its uptrend, it is likely to find resistance around 0.78 against the greenback, 1.04 against the loonie, 1.37 against the euro and 88.00 against the yen.

by RTT Staff Writer

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