The Australian dollar on Monday climbed despite milder US data prior to Federal Reserve’s meeting this week.
The Aussie ended at 78.23 US cents from Friday’s 78.10 US cents, and 72.02 euro cents from 71.82 euro cents.
Mild economic figures had devitalized the US dollar. The question is “whether these softer reports will lead to a more dovish Fed statement,” said Kathy Lien, Managing Director at BK Asset Management.
Meanwhile, traders were skeptical the Fed could become more downbeat regarding the US economy.
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