The Australian dollar jumps to its highest value in more than four months as optimism about the COVID-19 economic recovery builds up.
The Australian dollar has jumped to its highest value in more than four months, as optimism about the COVID-19 economic recovery builds up.A weaker US greenback helped boost the local currency to levels not seen since late January, as did strong demand for Australia's key export, iron ore, which is still trading above $US100 per tonne.
It follows a steady day on Wall Street as investors focused on the continuing reopening of state economies across the United States.The S&P 500 and Nasdaq rose by 0.4 and 0.7 per cent respectively.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Love and calm must prevail, says Aussie cop on frontline of US riotsAn Australian police officer on the frontline of protests that have engulfed dozens of US cities, says the chaos playing out after the death of George Floyd may force him to leave policing after a decade | rachael_dexter
Read more »
Top Wallabies prospect backs besieged Aussie rugbyAustralian rugby is hurting and losing some of its best talents. Not this man.
Read more »
Pandemic reviving the ‘great Aussie road trip’ | Sky News AustraliaTourism and Transport Forum chief executive Margy Osmond says falling social restrictions will see the great Aussie road trip “reborn”.\n\nMs Osmond said people on the south coast of NSW and in Victoria near Gippsland are keen to see visitors return.\n\n“We know from surveying we’ve done very recently that 70 per cent of those regional communities are very, very keen to have those visitors back, and one in five of those visitors actually wants to go to a bushfire zone,” she said.\n\nMs Osmond pointed out the influx of cash from intrastate travel will not amount to the spend from international visitors.\n\n“Your average Chinse visitor, for example, previously would’ve spent $8,500 compared to $1,000-$2,000 that a local will spend,” she said.\n\n“We are going to need to encourage Australians to try new things and perhaps things that are a little bit more high yield.”\n\nImage: Getty
Read more »
Dairy industry's set milk prices providing security for Aussie farmersThe release of a set minimum farm gate price for milk has put Australian dairy farmers back in the driver&x27;s seat when it comes to price negotiations.
Read more »
World's reaction to US weaves solidaritySeveral thousand people marched in New Zealand&x27;s largest city today to protest the killing of George Floyd in the US as well as to stand up against police violence and racism in their own country.
Read more »
China's currency could trigger a new flashpoint in the growing cold war with the USOpinion: Some curious fluctuations in the value of China’s currency could create yet another flashpoint in the escalating tensions between China and the US
Read more »