Investing.com - The Australian dollar rose to one-week highs against its U.S. counterpart on Monday, as Friday's unexpectedly weak U.S. manufacturing data continued to weigh on demand for the greenback.
AUD/USD hit 0.9414 during late Asian trade, the pair's highest since November 8; the pair subsequently consolidated at 0.9415, gaining 0.47%.
The pair was likely to find support at 0.9306, the low of November 15 and resistance at 0.9480, the high of November 8.
On Friday, a report showed that the Federal Reserve’s Empire state manufacturing index fell to -2.21 from 1.52 in October. Economists had forecast a rise to 5.0.
The greenback also remained under pressure amid heightened expectations that the Federal Reserve will stick to its easy money policies for some time to come, after comments by Fed Chairwoman nominee Janet Yellen last week were seen as supportive of continued stimulus.
The Aussie was also higher against the euro with EUR/AUD shedding 0.42%, to hit 1.4341.
Later in the day, the U.S. was to release private sector data on the outlook for the housing sector.
AUD/USD hit 0.9414 during late Asian trade, the pair's highest since November 8; the pair subsequently consolidated at 0.9415, gaining 0.47%.
The pair was likely to find support at 0.9306, the low of November 15 and resistance at 0.9480, the high of November 8.
On Friday, a report showed that the Federal Reserve’s Empire state manufacturing index fell to -2.21 from 1.52 in October. Economists had forecast a rise to 5.0.
The greenback also remained under pressure amid heightened expectations that the Federal Reserve will stick to its easy money policies for some time to come, after comments by Fed Chairwoman nominee Janet Yellen last week were seen as supportive of continued stimulus.
The Aussie was also higher against the euro with EUR/AUD shedding 0.42%, to hit 1.4341.
Later in the day, the U.S. was to release private sector data on the outlook for the housing sector.