CANBERA (dpa-AFX) - The Australian dollar traded higher against its US counterpart in late New York trading on Monday from early morning session's downward trading.
Investors may likely to focus at the Australian home loans data for the month of January and NAB business confidence data for February that has been slated for release in the upcoming Asian session.
The Aussie extended its last Friday's downtrend against the greenback in Monday's Asian and European deals. At 4:45 am ET, the Aussie dropped to a 5-day low of 1.0513 versus the greenback from Asian session's closing value of 1.0526.
During US trading, the Australian unit also declined further versus the US currency and fell to a 7-week low of 1.0476 as of 10:30 am ET. Thereafter, the pair reversed its direction and presently trading near 1.0520.
Copyright RTT News/dpa-AFX