Australian dollar once again higher on USD weakness

THE US dollar fell to a more-than-three-year low against the euro on Friday on expectations ECB policymakers are preparing to reduce stimulus.

THE Australian dollar is back above 79 US cents — just. At 0635 AEDT on Monday, the Australian dollar was worth 79.08 US cents, up from 78.79 US cents on Friday.

The US dollar fell to a more-than-three-year low against the euro on Friday, extending recent losses on expectations European Central Bank policymakers are preparing to reduce stimulus.

The euro’s rise weighed on the US dollar index, which measures the greenback against six rival currencies, Reuters reported. “The index was down one per cent, after slipping to a four-month low of 90.954,” it said.

The Aussie dollar is also higher against the yen but has fallen against the euro.

Originally published as Australian dollar once again higher on USD weakness