(8 April 2011 – Australia) On Friday morning the Australian dollar rose past the US$1.05 mark driven by optimism over about the Australian economy.The local dollar backed away soon after a peak of 105.08 US cents to sit above US$1.04 after a strong aftershock hit Japan.
The Australian Bureau of Statistics (ABS) announced that the unemployment rate fell to 4.9 percent in March, raising the dollar on Thursday before the spike on Friday morning.
Bank of New Zealand currency strategist Mike Jones said good news regarding the Australian economy had driven the local currency to new highs. He cited the surprisingly strong employment result as kick-starting the strength, with momentum continuing offshore.