The Aussie dollar is at a four-week high as the trading week starts in Europe

Photo by Joosep Martinson / Getty Images for IAAF

The Aussie dollar continues to show strength against the greenback, hitting US77.29 cents today, its highest level since February 24.

Asian markets were quiet today, so sentiment is still being driven by the events of last week.

The US dollar has weakened across the board, in part driven by continued disappointment that the US Federal Reserve did not signal a more aggressive rate tightening schedule in its latest forecasts released last week.

The US dollar index, or DXY, is currently trading down 0.15% at 100.15.

A rebound in Chinese commodity futures on Monday may also be helping to support the Aussie’s gains. London’s trading desks will be firing up in a few hours.

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