Australian dollar gives up some early revenues after China GDP

Australian dollar gives up some early revenues after China GDP

On Monday, the Australian dollar gave up some early revenues as China’s GDP came in better than expected a for the first quarter and the greenback sagged on a trade-weighted basis as American Vice President Mike Pence headed to the ceasefire line on the Korean peninsula dubbed the de-militarized zone or DZB for short.

The currency pair AUD/USD hit at 0.7586, ascending 0.11% with markets in Australia unavailable for Easter Monday. The currency pair USD/JPY reached 108.26, slumping 0.36%.

The US dollar index, measuring the greenback’s actual value against a trade-weighted basket of six main currencies, tumbled 0.21%, showing 100.28, which is close to a five-month minimum.

The previous week, the vast majority of key markets were unavailable for Good Friday, with the major American currency up against a basket of key currencies on Thursday, thus mounting a revival from its tumble in the previous session and following Trump’s statement that the greenback was too strong, while mostly positive economic data drove market sentiment.  

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