Aussie gains ahead of retail sales


The Aussie reversed course and fell on Monday, while the yen gained on safe-haven demand following multiple ballistic missile tests by North Korea into the Japan Sea.

AUD/USD traded at 0.7576, down 0.22%, while USD/JPY changed hands at 113.82, down 0.20%.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.09% to 101.44.

Australia reported retail sales for January with a 0.4% gain as seen month-on-month. Ahead, Minneapolis Fed President Neel Kashkari speaks later in the U.S.

On Thursday, the European Central Bank meets and will offer fresh cues on the future direction of its stimulus program.


The author Paul