a$ rising high

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    from ABC Online

    The surging Australian dollar has topped the 68 US cent level, with the local currency climbing higher against a declining American greenback after weekend comments at the Group of Seven meeting in Dubai.

    The G7 leading industrialised nations have urged greater flexibility in exchange rate systems.

    There are concerns that undervalued Asian currencies and notably those of China and Japan could cause economic imbalances.

    This morning, as the US dollar has softened, the Australian dollar has been as high as 68.36 US cents.

    That is up almost one and a half cents on Friday's local close, and the strongest the local dollar has been against the greenback since early July.

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