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FOREX - AUSTRALIAN DOLLAR STRONGER AT NOON - DEC 1, 2006.
SYDNEY, Dec 1 Asia Pulse - The Australian dollar was stronger at noon, after being sent to a fresh 2006 high overnight by a sickly US currency.
At 1200 AEDT the domestic unit was at $US0.7892/97, up from yesterday's close of 0.7858/60.
This morning it reached a low of $US0.7880 and a high of 0.7896.
Overnight the currency climbed to $US0.7903, eclipsing its previous 2006 peak of 0.7860 reached during local trade yesterday.
The unit was last at these levels in late March 2005.
National Australia Bank currency strategist John Kyriakopoulos said US dollar weakness remained the principal theme for the market, as expectations of Federal Reserve (Fed) rate cuts weighed on traders' minds.
"There's ...
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Source: HighBeam Research, FOREX - AUSTRALIAN DOLLAR STRONGER AT NOON - DEC 1, 2006.