By FX Empire.com
Aussie fluctuated between losses and gains versus the American dollar amid the European debt concerns, while the market awaits more news to detail the next step by leaders to contain the crisis to help sustain the upside momentum.
Meanwhile, the Australian dollar continued its upside movement against the greenback and the yen before a report later this week projected to show Australian employers added jobs last month for the first time since June.
Aussie rose versus the US dollar for the first time since September 22 as a rally in stocks spurred demand for higher-yielding assets, while the Kiwi also inclined against the greenback as Germany and France pledged to deliver a plan to support banks.
On the other hand, Australia’s currency pared earlier losses after minutes of the central bank’s policy meeting this month said the Reserve Bank is “well placed” to respond to global and domestic economic risks or inflation.
On Wednesday, at 23:30 GMT (Tuesday) Australia will report the Westpac consumer confidence for October after it dropped by 3.5% in September.
Australian home loans index for August will be released at 00:30 GMT on Wednesday after rising 1.0% in July.
At 18:00 GMT, the Federal Reserve Bank will release the minutes of its September 20 FOMC meeting.
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