Aust dollar opens higher

Local currency rallies as BoE, ECB announcements buoy EU markets.

The Australian dollar is higher after announcements from the Bank of England (BoE) and the European Central Bank (ECB) pushed major European share markets higher.

At 0630 AEST on Friday, the local unit was trading at 91.44 US cents, up from 91.06 cents on Thursday.

After meetings on Thursday night, Australian time, the ECB and BoE pledged to keep their interest rates at low levels in order to support economic growth.

US markets were closed on Thursday for the Independence Day public holiday.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles