Aussie rises in Asia amid reviving construction activity
On Wednesday, the Australian dollar managed to gain after construction data along with the Japanese yen edged up as market participants are turning their attention to the Fed’s upcoming rate lift.
In Australia, construction work carried out for the first quarter dipped 2.6%, more than the 1.5% fall observed quarter-on-quarter.
The currency pair AUD/USD found itself at 0.7210, demonstrating a 0.39% surge, while USD/JPY was worth 109.96 with a 0.04% sag. As for EUR/USD, this currency pair dared to acquire up to 0.13%, trading at 1.1155 when negotiations on Greece’s debt program finished.
The RBA in its May Statement on Monetary Policy told that non-residential building approvals are still at quite low levels.
A bit earlier, New Zealand officially reported that the trade balance for April demonstrated a deficit of approximately NZ$3.66 billion year-on-year as well as a surplus of NZ$292 million month-on-month.
The currency pair NZD/USD was worth 0.6761, showing a 0.36% soar after the data.