The Australian dollar rose sharply after Trump`s press conference.
Uncertainty about his policies after President-elect Donald Trump`s first press conference sent the Australian dollar up one cent.
The Australian dollar, which fluctuated around 73.75 cents before Trump`s speech, soared to 74.72 cents in his speech, the highest since mid-December, while the dollar fell against major currencies.
At 07:55 this morning, the Australian dollar rose 1% against the US dollar to 74.42 cents.
Global financial markets fluctuated in the first news conference since Trump was elected president.
Investors who want to hear about tax reform and infrastructure investment plans are disappointed because much of the problem has focused on reports this week of Russia`s attempts to influence the election and its potential relations with the United States.
ANZ thinks the Australian dollar may have enough kinetic energy up to 78 cents.
"the Australian dollar will test the upper pressure level," ANZ said.
"We expect the Australian dollar to re-test 78 cents."
Western said it thinks the next target for the Australian dollar is 75.25 cents.
