AUD/USD overleaps 0.8000

AUD/USD overleaps 0.8000

The currency pair AUD/USD managed to extend its break above 0.8000 level in Asia because the bulls got fresh impetus from positive China revenue data as well as renewed broad based USD weakness.

The Aussie has been leaping for the fourth consecutive session, mostly on the back of extension of Fed induced sell-off in the US currency versus its key counterparts. Apparently, the FOMC verdict failed to provide clarity on the next rate lift because the Committee kept its gradual rate lift stance conditional on the approaching inflation data publication.

Contributing to the upside in the AUD/USD pair, financial markets appreciate stronger-than expected soar in the Chinese industrial profits data. Meanwhile, the second-liner disappointing Australia’s import prices data had minor impact on the spot.

Ascending commodities’ prices along with record high global indices provide extra boost to the higher-yielding Australian dollar.



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