The sudden surge in the Australian dollar above US71¢ is expected to continue for the next few months at least, but some strategists warn the rally could rapidly unwind as the US currency starts to reassert itself.
The Aussie dollar touched US71.47¢ on Thursday, its highest level since February 2023 and extending its rally already this year to a massive 7 per cent, buoyed by a weaker greenback and an interest rate increase by the Reserve Bank of Australia last week.
