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Currency: EUR/AUD still at its lowest

24/02/2021
Source : ORISHAS FINANCE
Categories: Economy/Forex

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While a series of stronger than expected indicators benefit the AUD, NZD and GBP, EUR/AUD remains at the lowest level since 2018. A series of indicators released last Friday led to significant movements in the currency market. The dollar was abandoned in favor of more risky currencies. The US dollar fell to its lowest level in three years against its Australian counterpart. and similarly with the pound, progress in fighting coronavirus infections has boosted sentiment in riskier assets. The numbers also show that the greenback fell against the New Zealand dollar. The Australian dollar hit $0.7892, its highest level since March 2018, while the New Zealand currency rose to $0.7315, its strongest level since April 2018. Also, the pound broke above the psychological level 1.4000, psychological threshold. On the euro zone Europe. It is still slowed down by slow vaccination and containment measures in Germany, the area's leading economy. The euro against the Australian dollar collapsed on Friday and reached a support that corresponds to the low of December 2018 at 1.5347.
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