Australia's sharemarket has bounced back from a recent sell-off on renewed hopes of a US interest rate cut.
The S&P/ASX200 jumped 102.1 points on Monday, up 1.21 per cent, to 8,518.6, as the broader All Ordinaries gained 108 points, or 1.24 per cent, to 8,794.3.
Global markets were buoyed by comments made New York Fed president John Williams, who on Friday said he still saw “room for a further adjustment in the near term”, lifting hopes that the Fed may yet move to cut interest rates.
The ASX has seen seven positive sessions in the past 21 trading days, and with five of those being Mondays, traders won't be reaching for the champagne just yet.
The Australian dollar was buying 64.60 US cents, on par with Friday at 5pm after dipping to August lows over the weekend.
