BREAKING: Australia and New Zealand Dollars Rises on Virus Vaccine Hopes
SYDNEY, Nov 17 (Reuters) - The Australian dollar climbed to a one-week high on Tuesday, holding above key chart resistance of 73 U.S. cents, while its New Zealand peer was perched at a 19-month top as investor sentiment was boosted by coronavirus vaccine hopes.
Risk assets were buoyed overnight by news that Moderna’s COVID-19 vaccine recorded a 94.5% efficacy rate in preliminary numbers from a large late-stage clinical trial.
The Australian dollar, a liquid proxy for risk, rose to $0.7319, a level last seen on Nov. 9. It was edging closer to a recent nine-week peak of $0.7340.
The New Zealand dollar was up at $0.6910. It was also within striking distance of a $0.6938 top from March 2019, a break of which would be bullish technically.
Earlier, the Reserve Bank of Australia (RBA) released minutes of its Nov 3 policy meeting in which it said it was ready to provide yet more policy stimulus if needed.
The RBA had trimmed the cash rate to 0.1% and launched a A$100 billion quantitative easing (QE) programme over six months.
Original article:
Edited 17 Nov 2020, 11:15
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