SYDNEY, March 20 (Xinhua) -- The Australian dollar has held steady on Monday, against its U.S. counterpart, with no real movement coming from the G20 meeting seen across the global basket of currencies.
At 0640 local time AEDT, one Australian dollar bought 76.89 U.S. cents, slightly better than the 76.82 U.S. cents it bought at the Friday market close.
Elias Haddad, senior currency strategist at the Commonwealth Bank told Xinhua in a statement, the Australian dollar should trend higher this week, on the back of strong iron prices and a weaker greenback.
"In Australia, the focus is on Tuesday's RBA (Reserve Bank of Australia) March meeting minutes and fourth quarter house prices," Haddad said.
What speculators are looking for, according to Haddad, is more information on the RBA's outlook for business investment, which in turn will impact the strength of the Australian dollar over the course of the week.
At 0824 local time AEDT, one Australian dollar buys 76.98 U.S. cents.
