Australian dollar rides high on weak greenback | ABC (Australia)

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Wednesday, January 28, 2004. 8:50am (AEDT)

Australian dollar rides high on weak greenback


Aussie dollar bounces back

There has been another bout of American dollar weakness, helping the Australian dollar back over the 78 US cent level.

The Aussie dollar hit 78.13 US overnight, equalling the peak of a fortnight ago as the highest level since 1997.

At around 8:30am AEDT, it was being quoted at 77.89 US cents.

On the cross-rates, it was at 0.6161 euros, 82.26 Japanese yen, 42.60 pence sterling and 1.149 New Zealand dollars.

Share prices on Wall Street have pulled back after yesterday reaching a two-and-a-half year high.

The Dow Jones industrial average has closed 93 points lower at 10,610.

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