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Australian dollar continues surge against U.S. dollar on Friday

Xinhua, February 3, 2017 Adjust font size:

The Australian dollar has continued its week long surge against the U.S. greenback on Friday, soaring above the 76.50 U.S. cents mark.

At 0635 local time AEDT on Friday, the Aussie dollar was sitting at 76.59 U.S. cents, soaring above its Asian market open on Thursday of 75.86 U.S. cents.

The dollar was buoyed by better than expected trade results on Thursday, which saw the Aussie currency surge to a two and a half month high.

Chief market strategist at IG, Chris Weston, told investors in a note, the Australian dollar is easily the best G10 currency over the past month with the local currency seeing a 6.7 percent increase in value over that period.

The Australian dollar has also gained ground against the Euro and the Yen.

At 0836 local time AEDT on Friday, the Australian dollar was sitting at 76.59 U.S. cents. Endit