The Australian Dollar (AUD) rose from 0.6480 late Monday reversing 10 days of losses as the currency travelled to 0.6620 against the US Dollar (USD). The Aussie has been boosted from precious metal prices particularly Copper, along with rises in equities. However, in NY overnight trading we have seen the AUD fall back to 0.6580 into Friday. Meanwhile US Manufacturing jumped in March mildly supporting the big dollar which has triggered questions over a June Fed rate cut. Tonight, we have US Non-Farm Payroll and the unemployment rate which should cause volatility.
The current interbank midrate is: AUDUSD 0.6582
The interbank range this week has been: AUDUSD 0.6479- 0.6618