AUD/USD Performance Chart as at 3:30 a.m. Singapore time, 28/04/11

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HISTORICAL DETAILS 

% Change

1 Wk 0.70%

1 Month 5.32%

3 Months 8.76%

6 Months 11.00%

1 Year 16.40%

 

52 WEEK

High 1.0852

Low 0.8067

 

BLOOMBERG MEDIAN FORECASTS

Q2 2011 1.02

Q3 2011 1.02

Q4 2011 1.00

Q1 2011 0.99

 

DAILY DETAIL

The Australian dollar has surged above $1.08 on its sustained push into record territory, with Australia’s Commonwealth Bank predicting it will hit $1.12 by September. Following the five-day Easter and Anzac Day weekend, the aussie was trading at $108.16, up from Thursday’s local close of $107.57 cents, and traded as high as $108.52 after Australian headline inflation figures for the March quarter came in at their highest since the June quarter of 2006. The aussie has continued its move upwards on the back of strong commodity prices and optimism about the global economy, which is encouraging traders to invest in high-risk, high-yield assets such as the Australian dollar. The 1.6% March quarter CPI figure raised the prospect that the Reserve Bank of Australia would have to move earlier to keep a lid on inflation by raising interest rate. Paolo Palazzi-Xirinachs, Chicago