The Australian dollar is flying in Asia, jumping over 1.5% from the levels seen just 24 hours ago.
What a difference a day makes. Geopolitical concerns, anyone?
Having started with some subtle jawboning of the US dollar by Donald Trump, the Aussie’s rally has gathered pace over the course of the Asian session, propelled higher by a strong Australian jobs report and across-the-board beat for China’s trade report for March.
It’s lit a fire under the AUD/USD, sending it to a session high of .7586 in recent trade.
The three-wave rally in the Aussie is shown in the 5-minute tick chart below.