Dollar soars

The Australian dollar is higher against its US counterpart which has fallen broadly following weaker-than-forecast US housing and consumer sentiment data.

At 0635 AEST on Monday, the Australian dollar was worth 76.21 US cents, up from 75.85 US cents.

Westpac’s Imre Speizer said the US dollar had fallen 0.3 per cent, while the local currency had risen from 75.80 to 76.30.

He expected the Australlian dollar to continue to rise on Monday.

“Positive momentum remains intact, 0.7640 the immediate target area,” he said in a morning note.

The Australian dollar is higher against the yen but unchanged against the euro.

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