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by ForexNewsNow Team on December 30th, 2010

Australian dollar hits all-time high against greenback

NEW YORK (Forex News Now) – The Australian dollar is continuing its strong performance against all its major counterparts, hitting an all-time high against the greenback in early currency market trading today.


The Aussie hit a session high of 1.0198 against the US dollar after clearing the overnight high of 1.0184, achieving its highest level since the currency was floated in December 1983.

By 9:20 A.M., GMT, the Aussie was trading at 1.0174, down 0.04% overall for the session.

According to online FX trading analysts, the currency pair was buoyed by the rise in US bond prices, which meant yields fell.

However, a negative reaction later Thursday to the fall in HSBC’s monthly China PMI index brought the Aussie back down from the post-float highs, even though the greenback continued to fall against most major counterparts.

The release of data on US jobless claims and pending home sales toward the end of the week could also have an impact on AUD/USD trading.

By ForexNewsNow Team

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