Australian dollar hits nine-month high against US dollar
The Australian dollar has hit a nine-month high against the US dollar, leaving the currency on track to challenge a September 2024 high.
This morning, the Aussie dollar was buying 65.82 US cents, which was helped along by improving risk appetite with US equity indexes nearing record highs.
So far this year, the Australian currency has strengthened against the greenback by 4 US cents.
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The Australian dollar has hit its strongest point against the US dollar in nine months. Getty
The new high offers a promising sign the dollar is rebounding after US President Donald Trump's tariff announcements in April.
Investors pulled tens of billions of dollars from the sharemarket in response to the wide-ranging tariffs.
Today, Trump threatened a 35 per cent tariff on goods imported from Canada, with fears Australia's could double.
If the Australian-US dollar breaks July highs, it would be the best levels since November.
The dollar could be on track to challenge the September 2024 high of 69.42 US cents.
The development comes after the Reserve Bank of Australia (RBA) left interest rates on hold at 3.85 per cent.
The announcement defied the expectations of economists and struggling mortgage holders.
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