Scoreboard: Almighty dollar

A rush to safety reversed, while the Australian dollar's spike will boost investor confidence.

Safe-haven flows unwound a little last night. Money flowed back into some of the emerging market currencies and stocks gained some. This happened mostly on Wall Street (helped along by some decent earnings reports) as European markets were a little more mixed. For domestic investors I think the key thing to note this morning is the Australian dollar back up at 0.8936 (41 at the high). That’s almost 2 cents higher than where we were yesterday morning and from yesterday’s close, the unit is up another 50 pips.

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