Source: ForexYard
The Australian dollar appreciated against most of its Major currency counterparts after the International Monetary Fund raised its global economic growth outlook, encouraging demand for high-yielding assets.
Australia’s neighbour New Zealand also saw its currency strengthen against both the U.S Dollar and the Japanese Yen. The New Zealand dollar also known as the “kiwi” saw gains as implied volatility of the G7 currencies hit its lowest level in three years.
The Kiwi dollar rose 0.1 percent versus the greenback as well as appreciating 0.6 percent versus the Yen.Tuesday’s trading saw the Aussie Dollar gain 0.3 percent against the U.S dollar whilst rallying 0.9 percent versus the Yen.
There are a number of financial reports due for release during Wednesday’s trading including Japan’s Trade Balance Report,New Zealand Consumer Price Index,National Australia Bank Quarterly Business Confidence and Bank of Japan Governor Shirakawa is due to give a speech.
Forex Market Analysis provided by ForexYard.
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