Trade deal hopes spur Aussie gains vs. Swiss franc for a third day
Tuesday, 29 October 2019 15:50 WIB |
Risk-oriented currencies strengthened on Tuesday with the Australian dollar climbing for a third consecutive session against the Swiss franc as hopes for an easing in Sino-U.S. trade tensions buoyed sentiment.
Underpinning risk appetite in markets, there is also heightened general optimism that Britain won't crash out of the European Union without a deal and the U.S. Federal Reserve will likely cut interest rates this week for a third time this year.
The Australian dollar gained a third of a percentage point against the relatively low-yielding Swiss franc and held just below a four-month high hit in mid-September at 0.6819 francs.
The currency pair is widely considered to be a barometer of risk sentiment in the currency markets and is up 1.3% in October, its biggest monthly rise since April 2019.
The British pound, meanwhile, was broadly steady around $1.285 after British Prime Minister Boris Johnson failed to gain the majority backing in parliament he required for an election, the third time he has failed to do so.
Source : Reuters