The Australian dollar and New Zealand dollar, the Oceania currencies, rose against the dollar and yen. Against a backdrop of a pause in the oil-price rally and a weaker dollar, the Australian dollar rose from just below $0.6980 to $0.6988, while the New Zealand dollar rose from just below $0.5620 to $0.5627. Against the yen, the Australian dollar rose into the upper ¥110 range and the New Zealand dollar into the upper ¥88 range.
Resource-rich and emerging-market currencies strengthened as the oil-price rally paused, with the Australian and New Zealand dollars rising against the dollar and yen. A weaker dollar and yen supported broad risk appetite.
Against the dollar, the Australian dollar rose from the New York afternoon level to just below $0.6980 during the morning, then reached $0.6988 in the afternoon. The New Zealand dollar rose from the $0.5600 range to just below $0.5620, then reached $0.5627 in the afternoon.
Against the yen, the Australian dollar fell from the ¥110.20 range to the ¥109.60 range in the New York market, then continued to rise from its lows in the Tokyo market, reaching ¥110.48 in the afternoon. The Australian dollar/New Zealand dollar cross? The New Zealand dollar against the yen fell from the ¥88.70 range to the ¥88.30 range, then rose through the Tokyo afternoon to the ¥88.90 range.
This week's main scheduled data include the release of Australia's Westpac Consumer Confidence Index for October. The index is reportedly expected to improve to -4.7% from -5.2% previously.