Dollar stronger, global equities bounce back
THE dollar has opened half a US cent higher on Friday morning, after an overnight rally in European and US equity markets.
THE dollar has opened half a US cent higher on Friday morning, after an overnight rally in European and US equity markets.
At 6.25am AEST today, the dollar was trading at 103.39 US cents, up from 102.87 cents yesterday.
US stocks made another dramatic comeback overnight, in another day of extreme volatility in markets around the world, with the Dow Jones Industrial Average battling back from Wednesday's 520-point loss with a 3.95 per cent gain yesterday.
European stocks also rebounded yesterday with London's FTSE 100 index climbing 3.11 per cent to 5162.83 points.
No major local economic data is due today.
The dollar hit a peak of 110.81 US cents on July 27, its highest level since the fixed exchange rate era ended with its float in December 1983.
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