The Australian dollar rallied against the greenback on Monday after a surprise e...
TOKYO - The Australian dollar rallied against the greenback on Monday after a surprise election victory by the country’s conservative government, while the yen eased as risk appetite improved slightly.
The Aussie was last up 0.7% at $0.6916, having bounced from a four-month trough of $0.6865. It was briefly quoted as high as $0.6990 but dealers said that was a miss-hit and the actual transacted peak was $0.6938. “There’s a sense of security with the continuation of the current government,” said Yukio Ishizuki, senior currency strategist at Daiwa Securities.The Aussie also found support on a statement from China’s central bank on Sunday that it would maintain the stability of its yuan within a reasonable and balanced range.
The yen dipped on a slight improvement in risk appetite, with data showing the Japanese economy unexpectedly accelerated in the last quarter, defying expectations for a mild contraction.
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