The Australian dollar edged down from its early morning session's uptrend against the US dollar and the Japanese yen during late New York trading on Monday.
Extending its last week's gain, the Aussie advanced further against its US and Japanese counterparts in Monday's Asian deals. The Aussie closed today's Asian session at 1.0488 against the greenback and 80.79 versus the yen.
During European session, the Australian unit traded further higher against the dollar and the yen and hit new multi-month highs of 1.0575 and 81.48, respectively in late European trading.
After hitting new multi-month highs in late European deals, the Australia's currency reversed its direction during New York deals today. At present, the Aussie is worth 1.0520 against the greenback and 81.02 versus the yen, which may be compared to European session's close of 1.0550 and 81.16, respectively.
There were no major economic releases from the U.S. on Monday. Traders will be looking ahead to this week's meeting of the FOMC.
In the upcoming Asian session, the Bank of Japan is due to announce its interest rate decision.The material has been provided by Instaforex Company - instaforex.com
The Bank of Japan is on Tuesday scheduled to conclude its monetary policy meeting and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The central bank is expected to keep rates unchanged at 0.10 percent.
The central bank in India also will announce decision rates, with the cash reserve ratio, repo rate and reverse repo rate all expected to remain unchanged at 6 percent, 8.5 percent and 7.5 percent, respectively.
Finally, many of the regional bourses remain closed for the Lunar New Year, including South Korea, Malaysia, Singapore, Taiwan, China and Hong Kong.The material has been provided by Instaforex Company - instaforex.com
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