Investing.com - The Australian and New Zealand dollars gained ground against their U.S. counterpart on Monday, helped by a rebound in oil prices, although Friday’s U.S. inflation data continued to support demand for the greenback.
AUD/USD rose 0.25% to 0.7169.
Oil prices rose back above $32 a barrel on Monday. However, gains were expected to remain limited as concerns over a global supply glut persisted.
NZD/USD climbed 0.44% to 0.6662.
Data on Friday showed that the U.S. consumer price index rose at an annual rate of 1.4% in January, ahead of expectations for a 1.3% increase.
Core inflation, which excludes food and energy, rose by a larger than forecast 2.2%.
The upbeat data reinforced the view that the Federal Reserve is likely to say on a monetary tightening path this year.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.20% at 96.81.