The Australian dollar (sign: $; code: AUD) is the currency of the Commonwealth of Australia, including its external territories Christmas Island, Cocos (Keeling) Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru, Tonga, Tuvalu, and Vanuatu. The Australian dollar was legal tender of Papua New Guinea until 1 January 1976, when the Papua New Guinean kina became the sole legal tender. Within Australia, it is almost always abbreviated with the dollar sign ($), with A$ or AU$ sometimes used to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents. In 2016, the Australian dollar was the fifth most traded currency in the world, accounting for 6.9% of the world's daily share (down from 8.6% in 2013). It trades in the world foreign exchange markets behind the US dollar, the euro, the yen and the pound sterling. The Australian dollar is popular with currency traders, because of the comparatively high interest rates in Australia, the relative freedom of the foreign exchange market from government intervention, the general stability of Australia's economy and political system, and the prevailing view that the Australian dollar offers diversification benefits in a portfolio containing the major world currencies, especially because of its greater exposure to Asian economies and the commodities cycle. The currency is commonly referred to by foreign-exchange traders as the "Aussie dollar".
A record 9 million overseas tourists came to Australia last year and tourism industry insiders say it is not just the lure of unforgettable sights pulling them onto the planes — the falling Australian dollar is also helping.
The Australian dollar rallied significantly during the trading session on Thursday and early hours as the Australian economy added more jobs than anticipated. However, there are bigger issues out there and quite frankly the market seems to be looking past that.
Theresa May told reporters in London that the draft Brexit agreement was "the best that could be negotiated" and said that it was a decisive step in the U.K.'s negotiations to leave the European Union.