AUD/USD: Intraday rally being attributed to strong regional stockmarket performance

I’m afraid I don’t know enough about the regional stockmarkets to know what’s driving them, but they are over 1% higher on average and the Australian market has ignored the downgrading of MacQuarie Bank and is +1.1%. This risk-on sentiment has in turn encouraged short covering in the AUD/USD and NZD/USD, both nearly 0.5% higher on the session.