The dollar continued to display its new-found resilience yesterday, holding above 52 US cents. It traded within a narrow range of 51.9 to 52.2 US cents, as traders waited for further direction. At the close of local trading, it was at 52.09 US cents compared with 51.6 at Wednesday's close. Throughout the day there were bouts of selling out of Asia, which were met with buying from Australian institutions.
Analysts expect the dollar to continue to rise.
On the domestic front, the release of building approval data could impact on the dollar. More significant will be the US employment figures due on Friday. Bonds crawled back from opening losses. The Age Company Ltd 2001. Any unauthorised use, copying or mirroring is prohibited.