The Australian dollar rose today on the back of the strong business confidence, though the currency has trimmed its gains by now.
The NAB business confidence rose from 8 in May to 9 in June. The report said:
Business conditions hit another multiyear high, with most industries performing well.
Meanwhile, home loans rose 1.0% from April to May on a seasonally adjusting basis. The reading was better than the drop by 1.9% in April but worse than analysts’ expectations of a 1.5% increase.
AUD/USD was up from 86.73 to 87.25 intraday, touching the strongest level since March 16, before trading at 86.97 as of 13:10 GMT today. EUR/AUD was flat at 1.4982 following the drop to the session low of 1.4927.
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