Dollar lifts after Jackson Hole

THE Australian dollar is higher against its US counterpart after speeches at the Jackson Hole central bankers meeting disappointed.

THE Australian dollar is higher against its US counterpart after speeches at the Jackson Hole, Wyoming central bankers meeting disappointed with little on monetary policy, prompting the greenback to fall.

At 0635 AEST on Monday, the Australian dollar was worth 79.24 US cents, up from 79.04 US cents on Friday. Westpac’s Imre Speizer said the US dollar, along with bond yields fell following the annual central bankers meeting.

“The eagerly awaited Jackson Hole speeches from (Federal Reserve chair Janet) Yellen and (European Central Bank president Mario) Draghi contained little on monetary policy, disappointing those looking for clues on outlook. The US dollar and bond yields fell,” he said in a Monday morning note.

“The US dollar index closed down 0.6 per cent on the day, to the lowest level since May 2016.” On Monday the Australian dollar would likely stay within the 78.65 to 79.65 US cent range “with a slight upward bias”.

The local currency is lower against the yen and the euro.

CURRENCY SNAPSHOT AT 0635 AEST ON MONDAY

One Australian dollar buys:

* 79.24 US cents, from 79.04 on Friday

* 86.49 Japanese yen, from 86.68 yen

* 66.30 euro cents, from 67.04 euro cents

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

Originally published as Dollar lifts after Jackson Hole