Australian shares rally as dollar hits six-month high

The Australian dollar has hit its highest point against the greenback since January. (Image: Getty)

Fri, 05 Jul 2024

By Derek RoseLocal shares have rallied amid firming hopes for a September rate cut by the US Federal Reserve, leading the Aussie dollar to hit a six-month high against the greenback.The benchmark S&P/ASX200 index on Thursday rose 91.9 points, or 1.19%, to a nine-day high of 7,831.8, while the broader All Ordinaries added 93.1 points, or 1.17%, to 8,079.2.On Wall Street overnight, the S&P500 hit its 33rd record high of the year after a private US survey of service-sector activity fell to its lowest level since the covid-19 pandemic. ...

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