Australian dollar rises on economic recovery hopes

Economies.com
2021-02-08 16:35PM UTC

The Australian dollar rose on Monday, amid optimism about the global economic recovery from the coronavirus pandemic.

 

US President Joe Biden administration is working with the Congress to push through extra stimulus to support the US economy from the coronavirus pandemic impact.

 

US Treasury Secretary Janet Yellen stated that if the plan is not approved, the economy wouldn't return to full capacity before 2022.

 

Most governments around the world are working relentlessly to end the Covid-19 pandemic with vaccination.

 

This comes after many promising Covid-19 vaccines were revealed, led by the Pfizer-BioNTech, Moderna and AstraZeneca vaccines.

 

As of 16:32 GMT, AUD/USD rose 0.3% to 0.7701, after hitting a high of 0.7716 and a low of 0.7651.

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