Aussie dollar climbs to 15-month high, as Nasdaq tech stocks decline

Australian shares are headed for a sharp fall in early trade, after scaling a four-month high yesterday.AUD: 71.3 US cents, 56.03 British pence, 61.83 Euro cents, 76.13 Japanese yen, 4.964 Chinese yuan, $NZ1.073Europe: UK : +0.1pc at 6,270, Germany +1pc at 13,172, Euro Stoxx 50 +0.5pc at 3,405Spot gold +1.4pc at $US1,841.44/ounce, iron ore +1.7pc at $US111.43/tonneThe Australian dollar jumped to 71.3 US cents, its highest value since April 2019.

Retail trade has been volatile recently — surging by a record 16.9 per cent in May, but that was after suffering its worst ever plunge in April . The latest figures may also be a little dated, given it covers the period before the Melbourne lockdowns, the worst of Victoria's triple-digit coronavirus infection spike, and the growing cluster in Sydney.

"We are forecasting a 3 per cent lift in retail sales following CBA spending data showing a steady recovery through June," Commonwealth Bank currency strategist Kim Mundy said. "However, the recent stage 3 shutdowns in Melbourne will weigh on some parts of the retail sector in July."There was a mixed performance on Wall Street overnight, as US investors sold their high-flying tech stocks, including Facebook , Microsoft and Amazon .

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