Aussie Extends Gains to Hit Multi-Year Highs Versus Dollar, Yen

The Australian dollar increased to its strongest level in years against the greenback and yen, underscoring a rebound in risk sentiment amid optimism around a longer-term US-Iran ceasefire.

The Aussie rose to as high as 71.97 US cents in Asian trading Thursday, a level not seen since June 2022. It also gained to 114.15 yen, its strongest against the Japanese currency since September 1990. The move comes alongside a broader rally in global equities, with the S&P 500 at record highs, as investors bet tensions in the Middle East may ease on signs the US and Iran are close to extending a ceasefire and restarting talks.