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Derek Rose

Australian shares rally as dollar hits six-month high

United States Mining US Federal Reserve Santos
The Australian dollar has hit its highest point against the greenback since January. (Joel Carrett/AAP PHOTOS)

Local shares have rallied amid firming hopes for a September rate cut by the US Federal Reserve, leading the Aussie dollar to hit a six-month high against the greenback.

The benchmark S&P/ASX200 index on Thursday rose 91.9 points, or 1.19 per cent, to a nine-day high of 7,831.8, while the broader All Ordinaries added 93.1 points, or 1.17 per cent, to 8,079.2.

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