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Aussie Hits Record High on Commodities

January 6, 2010 at 23:41 by Jan Baros

Australian dollarThe Australian currency touched the highest level in 2 years versus the euro as commodities rates are fueling the Aussie’s rally, which also gained considerably versus the greenback during today’s session.

The Aussie advanced sharply versus the euro, yen and its U.S. counterpart as estimates that a global economic recovery will continue raise rates for the nation’s commodities, helping the Australian dollar to outperform most of the 16 main traded currencies as it happened in 2009.

EUR/AUD bottomed at 1.5660 as of 21:33 GMT from a previous reading of 1.5761 yesterday.

If you have any questions, comments, or opinions regarding the Australian Dollar, feel free to post them using the commentary form below.

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