Aussie dollar ‘directionless’

THE Australian dollar is higher against its US counterpart which also had ranged sideways with little data to direct it.

THE Australian dollar is higher against its US counterpart which also had ranged sideways with little data to direct it and traders in the US and Britain away for public holidays.

At 0640 AEST on Tuesday, the Australian dollar was worth 74.40 US cents, up from 74.30 US cents on Monday.

Westpac’s Imre Speizer said the Aussie dollar had not ranged much in the overnight session with not much data around to guide it and the US and UK markets off for public holidays.

“The AUD ranged between 0.7425 and 0.7450,” he said in a Tuesday morning note. He expected the Aussie to be “directionless in the short term, bounded by 0.7330 and 0.7515”.

The local currency is also higher against the yen and the euro.

CURRENCY SNAPSHOT AT 0640 AEST ON TUESDAY

One Australian dollar buys:

* 74.40 US cents, from 74.30 on Monday

* 82.80 Japanese yen, from 82.66 yen

* 66.62 euro cents, from 66.53 euro cents

(*Currency closes taken at 1700 AEST previous local session)

Originally published as Aussie dollar ‘directionless’