The Australian dollar is on a tear, breaking through US70¢, and strategists expect the currency will keep powering ahead as the risk-on momentum that has unleashed a 32 per cent rally in stocks since the height of COVID-19 fears continues unbroken.
Until Friday, when the S&P/ASX 200 Index breached 6000 points for a second day in a row, the Australian dollar last traded at US70¢ on January 2.
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Sarah Turner is the editor of the AFR Weekend Perspective section based in our Sydney newsroom. Email Sarah at s.turner@afr.com
