Aussie buoyed by trade optimism, sterling sags again
Tuesday, 24 December 2019 16:26 WIB | CURRENCIES |AussieDolarSterling,Aussie

Australia's dollar approached five-month highs on Tuesday, benefiting from optimism about improved U.S.-China trade relations, with currency markets elsewhere mostly quiet at the start of the holiday season.

Sterling, which has fallen for five straight days, was under pressure again as worries about a disruptive Brexit and reduced liquidity combined to hurt the currency.

The dollar and euro remained in their recent trading range just below $1.11.

The Aussie tends to do well optimism grows over global trade and China's economy. The United States and China have announced phase one of a trade deal and markets, despite a lack of details, see the agreement as a de-escalation in their long-running trade dispute.

The Australian dollar rose to as much as $0.6930 AUD=D3, within striking distance of its Dec. 13 peak of $0.6939, its highest level since late July. The currency has gained more than 1% in the past four sessions.

Source : Reuters

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