Trade Resources Economy Dollar Has Pushed Higher, Helped Along by Continued Strength on Sharemarkets

Dollar Has Pushed Higher, Helped Along by Continued Strength on Sharemarkets

The dollar has pushed higher, helped along by continued strength on sharemarkets.

At 5pm AEST today, the Aussie was at $US1.0556, up from $US1.0521 yesterday.

OzForex chief currency strategist Jim Vrondas said the local currency continued to rally today thanks to gains on both the Australian and US sharemarkets.

"There has been a bit of positive sentiment from equity markets and it looks like that is helping to keep the Aussie dollar buoyed," he said.

The dollar has risen about US2c since the start of the week, helped along by sharemarket gains and Japan's stimulus package.

That's despite a brief pullback in the currency yesterday following news the national unemployment rate had risen to 5.6 per cent in March, its highest level in more than three years.

Source: http://www.theaustralian.com.au/business/markets/dollar-higher-on-sharemarket-strength/story-e6frg94o-1226619357045
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Dollar Higher on Sharemarket Strength
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