The aussie moved higher overnight against the US mainly on the back of a weaker US Dollar across most other currencies.
Despite low commodities across the board, save for silver, the aussie rallied against the US from a low of around .6660 to a high of .6785 at 5.30am Sydney time.
I feel there will be some profit taking however over the week there may be some further consolidation and I feel the aussie will be pressing the .70 mark by Christmas.
Medium term a further weakening in the US could see the aussie meet .75.
One interesting fact is that again, the major movement occured at around 3am Sydney time with the aussie moving from around .6720 to .6766, a gain of almost .50 points.
So from a low of .6663 to a high of .6785 a move inexcess of one cent.
The little aussie battler still slugging it out with the yankie dollar!
