Aussie shares have closed at a fresh 11-month high, finishing the day up marginally and returning the market to a level not seen since last February.
At the close of trade the benchmark ASX 200 was up 48.4 points or 0.7 per cent to 6917.3 points.
The day’s biggest winner was payment provider ZIP Co, which rose 9.95 per cent to $13.92.
Zip’s stock rise was so strong that it prompted a price query from the ASX, to which it replied that the company was “not aware of any information concerning it that has not been announced to the market”.
The day’s biggest loser was building fixtures and fittings operation GWA, which sunk 8.09 per cent to $3.41.
The Aussie dollar is currently buying just over 78 US cents as the US dollar is weakened across foreign exchange markets.
The local currency has also been bolstered by positive news that the AstraZeneca vaccine is safe to be rolled out across the country.
This particular vaccine is to be manufactured locally and is the cornerstone of Australia’s post-COVID economic activity.
Favourable job numbers – Aussie payroll jobs are now at pre-COVID levels – have also propelled the dollar higher.
In forex terms, the Australian dollar is often seen as a growth option when the American greenback shows signs of weakening.
Cryptocurrency Bitcoin is currently worth $63,193 per coin. On Sunday afternoon BTC hit $63,800.