Australian Dollar Climbs Toward Two-Month High as US Data Weighs on Greenback
AUD/USD is trading near 0.7106 after touching a two-month high around 0.7129, supported by a softer US dollar following weak retail sales.
AUDUSD
The Australian dollar is holding near two-month highs against a weaker US dollar. AUD/USD was quoted at 0.7106, with the recent peak around 0.7129.
Sentiment for the greenback remains soft after last week's US retail sales data disappointed, and the US economic calendar is light. That combination has given the Aussie room to strengthen.
The pair's move is being framed mainly as a US dollar story rather than a shift in Australian fundamentals.
Source: FXStreet Forex News