In what is quickly becoming reminiscent of the movie “Groundhog Day”, the Australian dollar continued to rally overnight, rising strongly on the back of strength in commodity prices, underwhelming US data and persistent US dollar weakness.
As at 7.30am AEST, the AUD/USD currently buys .7812, up an impressive 0.8% from Monday’s closing level.
At the high of .7826 struck in overnight trade, the Aussie extended its gain from the multi-year low of .6824 struck on January 15 this year to a full 10 cents.
In percentage terms, that’s an increase of 14.7% in just 67 days of trade.
Against the US dollar, the Aussie now sits at highs not seen since June 18 last year.
With no major data or events scheduled in Asia, movements in the Aussie today will likely be limited in nature.
Here’s the current Australian dollar scoreboard.
- AUD/USD 0.7812 , 0.0001 , 0.01%
- AUD/JPY 85.34 , 0.06 , 0.07%
- AUD/CNH 5.0516 , 0 , 0.00%
- AUD/EUR 0.6876 , -0.0001 , -0.01%
- AUD/GBP 0.5425 , -0.0002 , -0.04%
- AUD/NZD 1.1092 , 0.0005 , 0.05%