Join today and you can easily save your favourite articles, join in the conversation and comment, plus select which news your want direct to your inbox.
Join today and you can easily save your favourite articles, join in the conversation and comment, plus select which news your want direct to your inbox.
The Australian dollar has hit a fresh two-month high against the US greenback, which fell sharply after comments from US President-elect Donald Trump.
The local currency was trading at around 75.57 US cents at 1000 AEDT, its highest mark since November rising after Trump bemoaned the strength of the US dollar.
As doubts grow over the United States' coming role on the global stage, Chinese President Xi Jinping has chosen his moment to take to the stage at Davos.
The Nigerian air force killed civilians and aid workers by accident in an air strike aimed at Islamist militant group Boko Haram, a military official said.
Up Next
Apprentice contestant sues Donald Trump for defamation
In his final days in office, President Obama commutes the sentence of Chelsea Manning, the former intelligence analyst who leaked a trove of classified material to WikiLeaks.
At a news conference in Moscow, Russian President Vladimir Putin says he doubts US President-elect Donald Trump met with prostitutes in a Moscow hotel room, referring to an unverified dossier published last week.
As doubts grow over the United States' coming role on the global stage, Chinese President Xi Jinping has chosen his moment to take to the stage at Davos.
In an interview with The Wall Street Journal, Trump said the US dollar's value is too high in part because China holds down its own currency.
"Our companies can't compete with them now because our currency is too strong. And it's killing us," Trump said.
Fredrik Nerbrand, global head of asset allocation at HSBC in London, said US policy will continue to be a dominant theme.
"The dollar is the guiding light at this point, and all eyes are on the shape US policy will take," said Nerbrand.
Advertisement
"I would put today's dollar weakness down to noise rather than a structural shift. If Trump wants to become as growth-generative as he's planning to be and you don't have the same fiscal push coming from the rest of the world, then it's a question of where does the capital flow to. The dollar is the tallest pygmy."
Already up more than 1 per cent on unexpectedly high December inflation data, the pound spiked higher after Prime Minister Theresa May pledged to hold a parliamentary vote on whatever deal Britain eventually reaches to leave the European Union.
The Australian dollar got another boost from the President-elect. Photo: Rob Homer
"The key event was May's speech," Vassili Serebriakov, FX strategist at Credit Agricole said.
"I think it was a case of sell the rumour buy the fact - buy sterling on the speech after selling on the rhetoric, which gave some concessions to the soft Brexit camp and prompted a relief rally in sterling."