The Australian Dollar (AUD) reached a fresh new high overnight against the US Dollar (USD) of 0.6795 as risk sentiment improved Thursday. Fed officials continue to push back on earlier aggressive forecasting of rate cuts while US data came in positive. Apart from a blip in equity markets midweek when we saw the cross-dip half a cent to 0.6720 the Aussie remained in charge as commodity prices recovered. As we head into 2024 markets will be thin, as usual at this time of year we can expect swings. Good time to put in orders.
The current interbank midrate is: AUDUSD 0.6799
The interbank range this week has been: AUDUSD 0.6689- 0.6799