AUD/USD hits fresh two-year highs, eyes 0.7700
|- Aussie among biggest gainers on Wednesday, on the back of risk appetite.
- AUD/USD heads for highest daily close since 2018.
The AUD/USD pair rose further during the American session and climbed to 0.7685, the highest since April 2018. As of writing, it remains near the top, holding a strong bullish tone supported by risk appetite and a weak US dollar.
Wall Street up, DXY down
The Dow Jones is rising by 0.58% on Wednesdays, and the Nasdaq climbs 0.28%. Recent developments regarding the AstraZeneca/Oxford vaccine offset Senate Majority Leader Mitch McConnell's rejection of the new coronavirus stimulus plan.
Main US stock indexes are heading toward another record close. Economic data from the US came in mixed and was mostly ignored by market participants. Home sales dropped 2.6% in November against expectations of a flat reading.
The risk-on environment is boosting commodity currencies. Among them, the Australian dollar is the top performer on Wednesday. AUD/NZD is back above 1.0650 while AUD/CAD trades around 0.9800, at the strongest level in two years.
Technical levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.