Dollar up as US stocks rise
THE dollar was half a US cent higher this morning after US stocks rose overnight.
THE dollar was half a US cent higher this morning after US stocks rose overnight.
At 6.30am AEST, the local unit was trading at 105.26 US cents, up from 104.74 cents yesterday.
Market sentiment was boosted by rising hopes the US Federal Reserve will offer new stimulus measures to kick-start the sluggish American economy.
Fed chairman Ben Bernanke will give a speech to a central bank symposium in Jackson Hole, Wyoming, on Friday (US time).
At last year's Jackson Hole meeting, Dr Bernanke announced the second round of economic stimulus by the Fed.
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