The dollars of Australia and New Zealand climbed on Tuesday as the monetary units tracked the advance of tradables on the commodity complex, Bloomberg reports.
The South Pacific currencies achieved gains for a third consecutive trading session, also rising as a result of reduced volatility while higher-yielding assets were in increased demand. Gold futures, which pushed to their top value in about one month on Monday, tugged the Aussie up early during the trading session on Tuesday.
Iron ore, the top export of Australia, on Monday neared its top value since the end of this past April, according to data released by The Steel Index Ltd. and cited by the news service.
The Australian dollar moderately edged up about 0.1 percent early during the Tuesday trade session against the world's reserve currency. The Kiwi's climb on Tuesday against the U.S. dollar on Tuesday morning was roughly 0.2 percent.
Australia is set to release domestic inflation data on Wednesday, which policy makers with the Reserve Bank of Australia are likely to consider when they convene next month to discuss borrowing costs, according to Reuters.
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