Aussie dollar rises with iron ore

THE Australian dollar is higher against its US counterpart as the price of iron ore lifts.

THE Australian dollar is higher against its US counterpart as the price of iron ore lifts.

At 0635 AEDT on Monday, the Australian dollar was worth 76.80 US cents, up from 76.40 on Friday.

The US dollar rose about 0.2 per cent against a basket of currencies following US president Donald Trump’s meeting with Japan’s prime minister Shinzo Abe and amid continued optimism that his administration will reform tax policy soon. However, the Aussie currency outperformed, its rise coinciding with a lift in the price of iron ore.

CURRENCY SNAPSHOT AT 0635 AEDT ON MONDAY

One Australian dollar buys:

* 76.80 US cents, 76.40 from Friday

* 87.24 Japanese yen, from 86.87 yen

* 72.29 euro cents, from 71.72 euro cents

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

Originally published as Aussie dollar rises with iron ore