CANBERA (dpa-AFX) - The Australian dollar strengthened against other major currencies in the Asian session on Wednesday, as Asian stock markets traded higher, following the broadly positive cues from Wall Street overnight, on tumbling crude oil prices and optimism about a second round of talks between the U.S. and Iran over next two days for ending the Middle East conflict.
U.S. President Donald Trump said the U.S. has been contacted by Iran about resuming peace talks and claimed, 'They'd like to make a deal very badly.' In a subsequent interview with the New York Post, Trump indicated the second round of U.S.-Iran talks 'could be happening over next two days.'
In the Asian trading today, the Australian dollar rose to more than a 1-month high of 113.54 against the yen, a 5-day high of 1.6512 against the euro and a 5-year high of 0.9837 against the Canadian dollar, from yesterday's closing quotes of 113.21, 1.6551 and 0.9814, respectively. If the aussie extends its uptrend, it is likely to find resistance around 115.00 against the yen, 1.63 against the euro and 0.99 against the loonie.
Against the U.S. and the New Zealand dollars, the aussie advanced to 0.7145 and 1.2091 from Tuesday's closing quotes of 0.7129 and 1.2077, respectively. The aussie may test resistance around 0.72 against the greenback and 1.22 against the kiwi.
Looking ahead, Eurozone industrial production for February is due to be released at 5:00 am ET in the European session.
In the New York session, U.S. MBA weekly mortgage approvals data, Canada manufacturing and wholesale sales for February, U.S. export and import prices for March, U.S. New York Empire State manufacturing index for April, U.S. NAHB housing market index for April and U.S. EIA weekly crude oil data and U.S. Fed Beige Book report are slated for release.
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