Aust dollar hits US94c on Fed talk
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Authentication & Security' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
The Australian dollar has surged in overnight trade, building on recent momentum in its steady push towards US95c. The latest uptick in the currency was driven by news interest rate hikes in the US were not imminent.
At 7am (AEST), the local unit was trading at US93.91c, up sharply from US93.62c at the close of local trade yesterday.
Over the past 24 hours the currency has seen a high of US94.01c and a low of US93.34c. It is the first time the local unit has hit US94c since November 19 last year.
Driving the currency higher yesterday were home loan approvals data that outstripped expectations and continued weakness in the US dollar on worries about the American economy.
The Australian dollar lost some ground in early US trade as optimism for the US economy rose on M&A activity and a positive earnings release from Alcoa. However, news that some members of the Federal Reserve believed their plans to raise rates had been misinterpreted saw US dollar investors clamouring for the exit.
"A number of participants noted the overall upward shift since December in participants' projections of the federal funds rate included in the March [update], with some expressing concern that this ... could be misconstrued as indicating a move by the Committee to a less accommodative reaction function," the minutes said, in a sign that rate rises are still a long way off.
The Australian dollar's strength will be tested at 11am (AEST) on the release of the latest jobs numbers from the Australian Bureau of Statistics. An improved read on the labour market could, however, see the local unit jump towards the US95c mark Bank of America Merrill Lynch analysts tipped a fortnight ago.
Call 1300 880 160
Start a chat
Schedule a call
