The November highs of 1.018 are just around the bend as AUD surges following the strong US Treasury auction. Suddenly we’re trading off somewhat lower yields which are working against the dollar across the board.
Aussie is the super star of the holiday season so it is only right that it should lead the way.
Traders note some talk of 1.0200 barriers which could keep a lid on AUD. A break above will prompt many of the unbelievers to cover their pitiful shorts…