Investing.com - The Australian dollar edged up to a more than two-month high against its U.S. counterpart on Monday, but gains were limited as investors remained cautious amid uncertainty over Greece debt talks.
AUD/USD hit 1.0497 during late Asian trade, the pair’s highest since November 1; the pair subsequently consolidated at 1.0495, inching up 0.08%.
The pair was likely to find support at 1.0382, the low of January 20 and resistance at 1.0565, the high of November 1.
On Sunday, Greece’s creditors said they had reached their maximum offer for a voluntary debt swop and said it was now up to the European Union and the International Monetary Fund to agree on whether they can accept the deal.
EU finance ministers were to meet in Brussels later in the day to discuss the terms of the debt restructuring package, which is a precondition for Athens to receive its next tranche of bailout funds.
In Australia, official data showed earlier that producer price inflation in Australia rose less-than-expected in the fourth quarter, ticking up 0.3% after a 0.6% rise the previous quarter.
Analysts had expected Australia’s PPI to rise 0.4% in the fourth quarter.
Elsewhere, the Aussie was higher against the euro with EUR/AUD shedding 0.34%, to hit 1.2290.
Financial markets in China, Hong Kong, South Korea, Taiwan and Singapore were closed to welcome in the Chinese Year of the Dragon.
AUD/USD hit 1.0497 during late Asian trade, the pair’s highest since November 1; the pair subsequently consolidated at 1.0495, inching up 0.08%.
The pair was likely to find support at 1.0382, the low of January 20 and resistance at 1.0565, the high of November 1.
On Sunday, Greece’s creditors said they had reached their maximum offer for a voluntary debt swop and said it was now up to the European Union and the International Monetary Fund to agree on whether they can accept the deal.
EU finance ministers were to meet in Brussels later in the day to discuss the terms of the debt restructuring package, which is a precondition for Athens to receive its next tranche of bailout funds.
In Australia, official data showed earlier that producer price inflation in Australia rose less-than-expected in the fourth quarter, ticking up 0.3% after a 0.6% rise the previous quarter.
Analysts had expected Australia’s PPI to rise 0.4% in the fourth quarter.
Elsewhere, the Aussie was higher against the euro with EUR/AUD shedding 0.34%, to hit 1.2290.
Financial markets in China, Hong Kong, South Korea, Taiwan and Singapore were closed to welcome in the Chinese Year of the Dragon.