Flooding in Brisbane was not as bad as the worst-case scenario, the wires report. Commodities continue their powerful rally. Share prices are at their highest level since Lehman Brothers was a member in good standing on the NYSE…
All that adds up to a good day for the AUD, building on the bounce from support in the 0.9800/10 area overnight. We’ve reached 0.9965 so far and traders are eying an area of resistance in the 0.9975/85 area. Stops are seen above 1.000, we hear.
Bids are seen now on dips toward 0.9935/40.