Australian dollar strengthens

Rolls Of Australian Cash Money With Five, Ten, Twenty, Fifty And One Hundred Dollar Notes.The Australian dollar has recouped some of its previous session losses against its US counterpart, unable to let go of the key 79 US cents mark.

At 0635 AEST on Friday, the Australian dollar was worth 79.00 US cents, up from 78.71 US cents on Thursday.

Westpac’s Imre Speizer markets were contained ahead of the Jackson Hole, Wyoming, meeting of international central bankers.

“US bond yields and the US dollar rose slightly,” he said in a Friday morning note.

“The US dollar index is up 0.1 per cent on the day… (while the) AUD fluctuated between 0.7867 and 0.7910.”

He said he didn’t expect to see much movement in the AUD/USD cross rate before the speeches at Jackson Hole on Friday night.

“(It) remains on a neutral footing today around 0.7900. Tonight’s Jackson Hole speeches will be important for near-term USD direction.”

The local currency is also higher against both the yen and the euro.

AAP

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