The Australian dollar gained ground against the U.S. greenback on Monday, with little movement expected due to a lack of local data slated for this week.
At the Asian open, one Australian dollar was buying 80.03 U.S. cents, up a slight tick from the 79.96 U.S. cents it was trading at late Friday.
Global liquidity will be one of the main drivers of the local currency this week, according to economist at the ANZ Bank Dan Been, who said on Monday that overseas moves will comprise the action, as there is not much to move the Australian dollar at home.
Been said that the Australian dollar "remains well supported", but added that there may be some movement locally following the release of the Reserve Bank of Australia meeting minutes on Tuesday.
At 8:20 a.m. AEST, one Australian dollar was buying 80.02 U.S. cents, while crude oil was trading at 49.79 U.S. dollars per barrel.
At the Asian open, one Australian dollar was buying 80.03 U.S. cents, up a slight tick from the 79.96 U.S. cents it was trading at late Friday.
Global liquidity will be one of the main drivers of the local currency this week, according to economist at the ANZ Bank Dan Been, who said on Monday that overseas moves will comprise the action, as there is not much to move the Australian dollar at home.
Been said that the Australian dollar "remains well supported", but added that there may be some movement locally following the release of the Reserve Bank of Australia meeting minutes on Tuesday.
At 8:20 a.m. AEST, one Australian dollar was buying 80.02 U.S. cents, while crude oil was trading at 49.79 U.S. dollars per barrel.
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