FXstreet.com (Córdoba) - The Australian Dollar continues to rise against Greenback. AUD/USD rose to 0.9275 posting a fresh 15-high. The pair is rising sharply on Monday and trades at 0.9266/70, 1.30% above today's opening price. Above 0.9300 the next resistance lies at 0.9345. The rise in gold prices and commodities are helping the Aussie. The ounce trades at $1057, an increase of 0.62% from Friday's close.
According to Andrew Wilkinson, analyst at Interactive Brokers, the Aussie could rise even further: The Australian yield curve is currently taking a great deal of strain. Three month cash reflects another half point from the RBA, while the December futures contract implies a further full one percentage point rise from the present 3.25% cash rate. The end 2010 contract implies rates close to 6%. We are not saying this situation can't become more bearish, in fact it appears as though the panic has only just started and will only accelerate Aussie dollar gains if stronger data emerges.