Investing.com

Investing.com - The Australian dollar rose to nearly three-week highs against its U.S. counterpart on Monday, as strong economic growth data from Australia continued to support demand for the nation''s currncy, although Friday''s U.S. jobs report lent some support to the greenback.



AUD/USD hit 0.9357 during late Asian trade, the session high; the pair subsequently consolidated at 0.9353, rising 0.20%.



The pair was likely to find support at 0.9258, the low of June 5 and resistance at 0.9393, the high of May 15.



The Aussie remained supported after official data released last week showed that the Pacific nation’s economy grew at a rate of 1.1% in the first quarter, above expectations for an expansion of 0.9%.



The risk-related currency also strengthened after the European Central Bank unveiled last Thursday a package of measures to avert the threat of persistently low inflation in the euro area.



Meanwhile, markets were still digesting a report by the Department of Labor released on Friday showing that the U.S. economy added 217,000 jobs last month, just under expectations for jobs growth of 218,000, while the unemployment rate remained unchanged at a five-and-a-half year low of 6.3%.



The Aussie was also higher against the euro, with EUR/AUD slipping 0.13%, to 1.4596.



Later in the day, Reserve Bank of Australia Governor Glenn Stevens was to deliver a speech at the Federal Reserve Bank''s Symposium on Asian Banking and Finance, in San Fransisco.





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