28.12 - AUD/USD regained positive traction
- by George Solotarov
The AUD/USD pair held on to its modest Asian session gains and was last seen hovering near one-week tops, just above the 0.7600 round-figure mark. The pair quickly reversed an intraday dip to the 0.7585 region and turned positive for the third consecutive session on Monday. News that the US President Trump has signed a $2.3 trillion COVID-19 relief and government funding bill added to the latest Brexit optimism.
The positive developments boosted investors' confidence, which was evident from the prevalent bullish trading sentiment around the equity market. This, in turn, undermined the US dollar's safe-haven demand and provided a modest lift to the perceived riskier Australian Dollar.