October 11, 2021

The Aussie Dollar Should Go Up! Sydney Is Free Of ‘Lockdown’ Apparently

 Australia’s largest city, Sydney is finally free after nearly four months under coronavirus restrictions.

This positive news was welcomed by Aussie dollar investors, who pushed the currency to a four -week high against the USD in the early trading session of the week.

Entering the European session, the Aussie dollar traded higher at around 0.7330, lifted by the market outlook for a recovery in the country returning positive by the end of the year.

However, most restrictions are now relaxed for people who have received the vaccine in full.

The Prime Minister of New South Wales (NSW), Dominic Perrottet, described the opening of the Sydney capital as 'Freedom Day'. He warned that cases of infection would increase after reopening, but they would survive with Covid-19.

Meanwhile in New Zealand, level 3 sanctions in Auckland are still in place after it announced an increase in Covid-19 cases. A total of 60 new cases were recorded on Sunday, and this is a huge leap for the country.

The kiwi dollar traded little changed at 0.6940 against the greenback dollar, amid uncertainty about Covid-19 in the country.