Still the Australian dollar continues its upside movement vs. the US dollar, where the AUD/USD pair recorded a new historic high at 1.0537 on Friday, as the outlook for Australian economic growth is improved, along with the RBA sees that the higher currency strategy is a suitable one to help the economy to curb inflation rates.
On the other hand, the Aussie headed for a third weekly gain against the greenback, as the market’s expectations that noted the Feds will reiterate the need to maintain stimulus measures to support economic recovery in U.S.
Moreover, the Aussie is one of the most attractive currencies to put on carry trades.
Traders boosted bets on the amount of rate increases by the Reserve Bank of Australia over the next 12 months to 30 basis points, from 18 basis points at the end of last week.
On Monday, the Australian economy won’t release any fundamental data, along with the world’s largest economy will halt releasing data.
Originally posted here
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