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JAN 28, 2014 - Investopedia

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Asia Recap: AUD makes further progress, GBP demand on the rise

FXstreet.com (Barcelona) - The Australian Dollar was the winner in Asian hours, driven by strong business confidence in Australia (2½ year high) while the Japanese Yen, weighed by a modestly higher Nikkei 225, traded weaker again.AUD/USD traders used the NAB business confidence data (jump of 7 points from -3 to 4) to trip stop-losses above the 0.8755 resistance area, allowing a continuation of the AUD upside trajectory from Monday until faced with the first cluster of offers (just pips ahead of 0.88) in which exhaustion led to solid demand being absorbed.    

Tags: Asia Recap: AUD makes further progress, GBP demand on the rise,  Australia Latest News