Shutterstock photo
Markets

Forex - AUD/USD almost unchanged, global concerns ease

Shutterstock photo

Shutterstock photo

Investing.com -

Investing.com - The Australian dollar was almost unchanged against its U.S. counterpart on Monday, as concerns over geopolitical tensions around the globe began to subside, easing demand for the safe-haven greenback.

AUD/USD hit 0.9274 during late Asian trade, the session low; the pair subsequently consolidated at 0.9274, dipping 0.03%.

The pair was likely to find support at 0.9239, Friday's low and resistance at 0.9330, the high of July 31.

The greenback lost some ground after the U.S. launched airstrikes in Iraq on Friday, in a bid to halt the advance of extremists in the country's north.

Also in the Middle-East, Israel and the Palestinians agreed on Sunday to an Egyptian proposal for a new 72-hour ceasefire in Gaza.

Meanwhile, fears over hostilities between Russia and Ukraine eased after Russia's defense ministry on Friday said it had concluded military exercises it was holding close to the border with Ukraine.

The Aussie had dropped to two-month lows against the greenback on Friday after the Reserve Bank of Australia cut growth and inflation forecasts and reiterated that interest rates will remain on hold.

The Australian dollar was higher against the euro, with EUR/AUD slipping 0.10% to 1.4444.

Investing.com offers an extensive set of professional tools for the financial markets.

Read more News on Investing.com and download the new Investing.com Stocks & Forex App for Android!

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx