The Australian dollar has risen above the 76.50 US cent mark, continuing its strong gains against its US counterpart.

At 0635 AEDT on Friday, the Australian dollar was worth 76.59 US cents, up from 76.43 from Thursday.

The Australian dollar has been an outperfomer on the currency stage, extending Thursday’s trade data-related rally when it soared above the 76 US cent-mark and reached a two-and-a-half-month high.

Australian Bureau of Statistics data on Thursday showed that Australia’s trade surplus for December skyrocketed 72 per cent to a record $3.5 billion, primarily on the back of surging commodity prices.

Meanwhile, the greenback fell on Thursday to its lowest since mid-November after the Federal Reserve gave no hint on its next interest rate rise and aggressive language from President Donald Trump’s administration kept investors focused on geopolitical risk.

However, the US dollar index was unchanged on the day.

The Aussie has also enjoyed a stellar rise against the euro and the yen.

AAP

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