The Australian dollar was modestly firmer on Friday as a rally in equities encouraged risk-taking, though the mood could turn ugly in an instant depending on US jobs data later in the day. The Aussie firmed to $0.8773, from $0.8729 late here on Thursday, taking it away from major support at $0.8655 but stalling just short of 88 cents.
"The Aussie is finishing a choppy week with a more positive tone," said Tony Morriss, senior currency strategist at ANZ investment Bank. "US stock markets, firmer oil and gold prices and a mildly weaker US dollar are all providing a more positive backdrop."
Australian and Asian shares followed Wall Street, which seemed to find comfort in a new plan to help distressed mortgage holders, though many analysts felt the impact on the economy would be marginal at best.
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