Investing.com – The Australian dollar extended its gains against the U.S. dollar on Monday, soaring to a fresh 6-week high in the wake of upbeat economic data from Canada and Europe and amid hopes for a rescue of debt-laden Greece.
During European afternoon trade, AUD/USD gained 0.6% to hit 0.9132, its highest rate since Jan. 21.
The pair was likely to find resistance at 0.9327, the high of Jan. 14, and support at 0.88, the low of Feb. 25.
Earlier Monday, official data showed that the number of buildings upon which construction was begun in Canada rose unexpectedly during February.
The Sentix research group, meanwhile, said on Monday that investor sentiment in the euro zone rose at a faster-than-expected pace in March.
Sentix's closely watched gauge of investor and analyst sentiment rose from -8.2 in February to -7.5 in March, data showed. Economists had expected the tally to rise only to -7.6.
On Sunday, French President Nicolas Sarkozy said on Sunday that the euro zone was ready to rescue Greece plug its gaping budget deficit, after fears over the country's fiscal health had spooked financial markets for months.