Australian dollar strengthens
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.
Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.
Inside Retail Polls
Super Retail Group has named Peter Birtles's replacement. Anthony Heraghty to take on CEO role at end of March.… https://t.co/4ocA2J5BS57 hours ago
Can we dispose with our disposable mentality further, by doing something to cut down on all the packaging of our fo… https://t.co/WdQwvRleeD11 hours ago