Australian dollar edges up

The Australian dollar extended gains into a second day on Friday, drawing support from a bounce in regional stock markets and commodity prices, although investors remained wary about a global recession. Bond futures fell as safe-haven inflows paused, but expectations of another big rate cut by the Reserve Bank of Australia (RBA) checked losses.
Interbank lending rates showed signs of easing, as central banks and governments across the world poured billions of dollars into money markets, helping lift some of the deep risk aversion. The Aussie was at $0.6907 against the US dollar, up from $0.6691 late here on Thursday, but off the week's high of $0.7239.
The Aussie, often considered a barometer for risk appetite, has lost about 17 percent in the past month, as investors unwound exposure in riskier assets and commodity currencies, concerned about a rapidly deteriorating outlook for global growth.