AUD Surges above 0.92

The Australian dollar remained around levels not seen in 23-years at noon, after surging above 92 US cents for the first time since 1984.
The domestic currency's rise is linked to expectations that Australian interest rates will go up in November, after the central bank holds its next board meeting.
At 1200 AEDT, the Australian dollar was trading at $US0.9209/15, up from Friday's close of 0.9117/22.
During the morning session it traded between a low of $US0.9189 and a high of 0.9218 that was reached just before noon.
That was its highest level since May 4, 1984, when it traded around 0.9270, according to central bank data.
The currency had pushed through 92 US cents at 0817 AEDT after opening the day at 91.84 US cents. Commonwealth Bank of Australia chief currency strategist Richard Grace said the local unit has been boosted by favourable sentiment offshroe toward high-yielding currencies.
''The majority of the story is just an adjustment to the fundamentals of the strong Australian economy - interest rates are likely to go up, commodity prices are high and Australia's terms of trade are high,'' he said.
''We have the Australian currency adjusting to a combination of these factors.''
The Reserve Bank of Australia is expected to raise official interest rates by 25 basis points to 6.75 per cent in November, to head off inflationary pressures in the economy.
Meanwhile, the US Federal Reserve's monetary policy setting arm, the Federal Open Market Committee (FOMC), is expected to cut the federal funds rate by a quarter of a percentage point to 4.5 per cent, when it announces its decision on October 31.
''The relative interest rate differential between Australia and the United States continues to widen in Australia's favour,'' Mr Grace said.
The Australian dollar is tipped to end the local session around $US0.9215 today, Mr Grace said.
He predictedthe currency could fall to 0.9180 if traders talk profits.
At 1200 AEDT, the Reserve Bank of Australia's trade weighted index (TWI) was at 72.3, up from Friday's close of 71.7.
This is the highest TWI since February 28, 1985, when it closed at the same level.
Meanwhile, the Australian bond market was weaker at noon.
At 1200 AEDT, the yield on the Commonwealth Government February 2017 bond was at 6.128 per cent, up from Friday's close of 6.073 per cent, while the August 2010 bond was at 6.600 per cent, up from 6.560 per cent.
On the Sydney Futures Exchange, the December 10-year bond futures contract price was at 93.865, down from Friday's close of
93.920, while the December three-year contract price was at 93.425, down from 93.470.
Soruce: AAP