The Australian dollar fell back to 98.02 US cents on Friday after hitting a record high of 99.18 overnight, stalling its expected march towards parity with the greenback. "It was a typical recoil from a key level. We can put the parity party campaign on ice, at least for the time being," said 4Cast financial markets head of research Ray Attrill.
On Thursday, the Australian dollar burst through 98.49 US cents for the first time since the currency was floated in 1983.
The breakthrough came on the back of a surge in new jobs, which raised expectations the central bank will lift interest rates from 4.50 percent to curb inflation in the mining-driven economy.
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