AUD-USD rose to highest since 1983 - touched 0.9653

旋木

The AUD-USD touched 0.9653 overnight, the highest against the USD since 1983 – a 25-year high!
The USD fell across the board on renewed concerns about the health of the US economy – this was the primary catalyst behind the AUD move.
The minutes from the US Federal Reserves 29-30 April policy meeting revealed the Fed had cut its US economy growth forecast for 2008 and signaled increased concerns about US inflation – hence, no further US interest rate cuts are likely.
The AUD was also supported by a surge in Commodity Prices – Gold hit 1-month high of USD$933.80, Oil hit a new record high of USD$134.10 per barrel.