Australian dollar strengthens as China adds further stimulus
April 20, 2015 4:48 am
The Australian dollar stayed close to its one-month peaks above 78 US cents Monday, as the People’s Bank of China injected additional liquidity to ignite bank lending and fight slowing growth.
The Chinese central bank announced Sunday reduced the reserve requirement ratio for all banks by 100 basis points.
The Aussie traded at 78.05 US cents from Friday’s 77.89 US cents. It also ended at 72.30 euro cents from 72.47 euro cents, and 52.16 British pence from 52.14 British pence.
US dollar’s weakness also backs the currency and “last week’s surprisingly strong jobs report,” said Matt Richardson, Foreign Exchange Dealer at OzForex.
Markets will monitor the release of minutes from the Reserve Bank of Australia’s April meeting due Tuesday. The material has been provided by InstaForex Company – www.instaforex.com
The Australian dollar stayed close to its one-month peaks above 78 US cents Monday, as the People’s Bank of China injected additional liquidity to ignite bank lending and fight slowing growth.
The Chinese central bank announced Sunday reduced the reserve requirement ratio for all banks by 100 basis points.
The Aussie traded at 78.05 US cents from Friday’s 77.89 US cents. It also ended at 72.30 euro cents from 72.47 euro cents, and 52.16 British pence from 52.14 British pence.
US dollar’s weakness also backs the currency and “last week’s surprisingly strong jobs report,” said Matt Richardson, Foreign Exchange Dealer at OzForex.
Markets will monitor the release of minutes from the Reserve Bank of Australia’s April meeting due Tuesday.
The material has been provided by InstaForex Company – www.instaforex.com
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