The Australian dollar rockets back above 70 cents

Photo: Getty Images

The Australian dollar is ripping higher in Asia, inspired by further strengthening in the offshore yuan, gains in stocks, a surprise lift in Chinese exports along with a dash of short covering.

Here’s the current Australian dollar scoreboard as at 1.25pm AEDT.

  • AUD/USD 0.7033 , 0.005 , 0.72%
  • AUD/JPY 83.12 , 0.99 , 1.21%
  • AUD/CNY 4.6274 , 0.0396 , 0.86%
  • AUD/EUR 0.6499 , 0.0068 , 1.06%
  • AUD/GBP 0.4861 , 0.0028 , 0.58%
  • AUD/NZD 1.0695 , 0.0026 , 0.24%

And here’s the 5-minute chart, courtesy of Investing.com.

The acceleration in buying momentum coincided with a stronger-than-expected Chinese trade performance for December.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.