The pound to Australian dollar exchange rate is 0.203% higher on the day with 1 GBP = 1.5742 AUD. The euro to Australian dollar exchange rate is 0.457% higher with 1 EUR = 1.3758 AUD. The Australian dollar to US dollar exchange rate is 0.381% lower with 1 AUD = 0.9927 USD. The Australian dollar had a good session yesterday, rising to a high of 0.9983 against the US dollar before closing the session at 0.9910 as short-term traders locked in profits following the reports in the FT. The rampant buying spree that characterised yesterday's financial trading session supported the commodity sensitive Australian dollar. With commodity prices remaining unchanged this morning it is easy to see why the Australian dollar has failed to continue with its advance against the likes of the British Pound. After three consecutive daily gains, yesterday's high coincided perfectly with the long-term uptrend resistance level around 0.9980. "Most importantly, from a technical perspective the market is still managing to hold above crucial long-term support around the 0.9650 to 0.9850 zone," says a note from Ben Potter at IG Markets. These levels stem back to the previous highs formed in May to July 2008, just before AUD/USD plummeted during the GFC. With nothing due on the economic calendar, AUD/USD is going to continue to be buffeted around by the macro winds that are currently driving markets.

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