Australian dollar nears six-week high, lifted by easing lockdowns

The Australian dollar hit six-week highs on Tuesday as re-opening economies helped recover its losses in March.

The Australian dollar has rallied over 17% after hitting a 17-year low last month. It broke resistance at $0.6445 and slid to $0.6438.

The New Zealand dollar fell as the aggressive measures imposed by its central bank weighed on it. It traded at $0.5998.

The dollar recovered its overnight losses, while most major currencies steadied.

The pound stood at $1.2424 after Prime Minister Boris Johnson said that it was still dangerous to lift the lockdown in Britain.

The Japanese yen traded at 107.27 against the dollar.

The euro, weighed down by disagreements in the EU concerning the proposed rescue package, held at $1.0832.

https://www.umarkets.com/en/news/australian-dollar-nears-six-week-high-lifted-by-easing-lockdowns