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Australian Dollar Rises Against Majors

The Australian dollar strengthened against other major currencies in the Asian session on Thursday.

The Australian dollar rose to nearly a 5-week high of 96.77 against the yen, from an early low of 96.61.

Against the U.S. dollar and the euro, the aussie advanced to more than 3-week highs of 0.6439 and 1.6456 from yesterday’s closing quotes of 0.6422 and 1.6484, respectively.

The aussie appreciated to more than a 3-month high of 0.8906 against the Canadian dollar, from yesterday’s closing value of 0.8884.

The aussie edged up to 1.0935 against the NZ dollar, from Wednesday’s closing value of 1.0924.

If the aussie extends its uptrend, it is likely to find resistance around 98.00 against the yen, 0.65 against the greenback, 1.63 against the euro, 0.90 against the loonie and 1.10 against the kiwi.

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