How is it rallying in light of all that is wrong in the US?"
Tony....with respect do you understand why the US is rising?
There is currently a flight of US cash back to the US. This is reflective of the poor sentiment in the markets generally. This has been occuring for a very long time. Nothing out of the ordinary there mate.
Further, the aussie is now falling against the US as the aussie is not a favoured currency in this environment for a number of reasons. Falling commodity prices don't help the aussie either.
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