Australian dollar edges up in Asia ahead of NAB

Australian dollar edges up in Asia ahead of NAB

On Tuesday, the Australian dollar tacked on in Asia, with a business poll ahead supposed to set the tone along with later data from China on money supply.

The currency pair AUD/USD showed 0.7543, rising 0.17%, USD/JPY reached 109.88, sliding 0.42%. The currency pair GBP/USD went down overnight by 0.69%, being worth 1.2659.

Gauging the greenback's value versus a trade-weighted basket of six main currencies, the US dollar index slid 0.09%, trading at 97.15.

The National Australia Bank is expected to publish its May business confidence poll with the previous reading at plus-13 as well as its business poll with the previous figure at plus-14. As for China’s report on money stock, it’s supposed to demonstrate a 10.4% revenue on year, while new loans might hit CNY 1 trillion.

Overnight, the greenback stood flat versus a basket of major currencies, unable to capitalize from a drop in the British pound, while expectations that the Fed will lift its benchmark rate on Wednesday restricted downside momentum.

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