06.07.201423:11:49UTC+00Australian dollar recuperates from last week's losses

The Australian dollar recovered some of last week’s losses despite light trading volumes as the US celebrated the Independence Holiday.

On Monday, Aussie was trading at 93.65 US cents, up from Friday’s 93.53 US cents.

The currency took a plunge last week following Reserve Bank of Australia Governor Glenn Stevens said it was overvalued while the US jobs report was stronger than anticipated.

“The Australian dollar managed to regain some of those losses amid light trading volumes over the weekend, with US markets closed for the Independence Day public holiday on July 4,” said Ray Attrill, Global Co-head of FX Strategy at National Australia Bank.