Rates At 0615 GMT Latest Change AUD/USD 1.0358 +1.76% AUD/JPY 79.58 -1.37% 6.50% May, 2013 3.8028% +0.1168 4.50% April, 2020 4.5166% +0.0025 10-Yr Spread To U.S. +236 bps +8 bps SFE Sep 3-Year Futures 96.08 -0.07 SFE Sep 10-Year Futures 95.40 -0.025 SYDNEY (Dow Jones)--The Australian dollar was higher late Wednesday buoyed by comments overnight by U.S. Federal Reserve Chairman Ben Bernanke that interest rates in the world's largest economy won't be raised until 2013. Bernanke's intervention revived confidence in global financial markets ending 48 hours of wild volatility that pushed the Australian dollar below parity Tuesday for the first time since March. Traders said Wednesday they remained nervous and watching stock markets for leads on what to expect next. Australian shares ended 2.6% higher Wednesday, reflecting similar moves in Asia. "The Fed have had rates at these levels for three years, they've done two rounds of quantitative easing and yet we're still sitting in the muck," said David Scutt, a trader at Arab Bank. Bernanke's comments may prove to be "more like a placebo rather than a cure," he added. A bigger than expected Chinese trade surplus also helped the Australian dollar. An economist at ANZ Bank, Li-Gang Liu, said the data should ease some concerns of a global slowdown as China's exports remained supported. China's trade surplus widened to US$31.5 billion in July, its highest monthly level since January 2009, government data showed. The surplus was up from US$22.3 billion in June, and well ahead of expectations for US$26 billion, according to an earlier poll of economists. At 0615 GMT, the Australian dollar was at US$1.0358, up from US$1.0179 late Tuesday. Against the Japanese yen, the Australian dollar was at Y79.58, down from Y80.685. Global issues overshadowed news of a further fall in consumer confidence in Australia in August. According to the Westpac-Melbourne Institute survey, consumer sentiment in Australia fell 3.5% in August, adding to a fall of 8.3% in the previous month. Westpac's chief economist Bill Evans said it is further evidence that interest rate are too high in Australia and job insecurity is likely to rise. The survey was conducted ahead of most of the recent upheavals in global markets. Traders will watch July employment data Thursday which could provide the first indications that a slowdown in non-mining industries is translating into job losses. Economists surveyed by Dow Jones Newswires said they expect to see employment rise by 13,750 over the month with unemployment remaining at 4.9%. -By James Glynn, Dow Jones Newswires; 61-2-8272-4685; james.glynn@dowjones.com (Data provided by Reuters)

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