$A is once again above 80 US cents

Chris Hutchings
(Australian Associated Press)

 

The Australian dollar once again has edged above 80 US cents as the US government shutdown weighs on the greenback.

At 0635 AEDT on Tuesday, the Australian dollar was worth 80.08 US cents, up from 79.94 US cents on Monday.

The dollar index, which measures the greenback against six rival currencies, was down 0.16 per cent at 90.428, close to a three-year low, as the US government shutdown weighed on sentiment.

Investors were also focused on a Bank of Japan policy announcement on Tuesday, and the European Central Bank’ meeting on Thursday, keeping trading cautious, the Reuters reported.

“Generally speaking the majors are all holding in familiar territory here ahead of a busy week of economic news and data, particularly on the central bank front,” Reuters quoted Omer Esiner, chief market analyst, at Commonwealth Foreign Exchange in Washington, as saying.

Both the BoJ and the ECB are not expected to signal any major policy shift.

The greenback had a slightly weaker tone on the day but did not concede too much ground against most major currencies amid the US government shutdown in Washington, which took effect at 0000 hours Saturday morning.

The Aussie dollar is also higher against the yen and unchanged against the euro.


CURRENCY SNAPSHOT AT 0635 AEDT ON TUESDAY

One Australian dollar buys:

* 80.08 US cents, from 79.94 on Monday

* 88.93 Japanese yen, from 88.57 yen

* 65.35 euro cents, unchanged

(*Currency closes taken at 1700 AEDT previous local session)

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