Forex – Dollar Little Changed, Aussie Dollar Inches Up Ahead of RBA Decision

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Investing.com – The U.S. dollar was little changed on Friday, while the Aussie dollar edged up ahead of the October’s monetary policy decision from the Reserve Bank of Australia due next week.

The U.S. dollar index which tracks the greenback against a basket of its peers was trading at 94.60, down 0.01% by 1:30AM ET (05:30 GMT), following its overnight rally on the back of economic policy uncertainty in Italy.

“Throughout most of the overnight trading session, there were growing doubts Italy’s coalition government would manage to timely agree on a 2019 budget target,” Elias Haddad, senior currency strategist at Commonwealth Bank of Australia, said in a morning note.

Official government data showed on Thursday that U.S. gross domestic product grew at a 4.2% in the second quarter, the fastest in nearly four years. Separately, another report showed durable goods rose 4.5% in August.

“The broad rally by the dollar has also been helped by seasonal factors, as it has coincided with U.S. investors bringing funds back home for the month’s end,” said Yukio Ishizuki, senior forex strategist at Daiwa Securities in Tokyo.

Read more at : https://www.investing.com/news/forex-news/forex–dollar-little-changed-aussie-dollar-inches-up-ahead-of-rba-decision-1627397

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