US stocks overcame a choppy day of trading om Friday and closed at fresh all-time highs as Group of Seven finance chiefs met in Britain to discuss economic challenges.
ANZ bank has stepped up home loan competition among the major banks, becoming the first in 16 years to cut interest rates by more than the central bank's move.
US stocks fell on Thursday, as buyers took a breather after a slate of successive record closes.The Dow Jones Industrial Average fell 22.50 (0.15 per cent) to 15,082.62.
The Australian dollar has fallen to a fresh two-month low during overnight trade, before recovering most of its lost ground amid gains on US share markets.
The blue-chip Dow Jones Industrial Average has closed above 15,000 for the first time as investor optimism about the US economy bolstered equities like Caterpillar.
The Australian dollar is still higher after getting a boost from better US employment figures, increasing optimism about the America's economic recovery.
The Australian sharemarket has opened more than one per cent higher after strong US jobs numbers pushed American stocks to a record high and helped miners outperform the market.
European and US stock markets soared to end last week, with the Dow, S&P 500 and Germany's Dax setting new records, as strong US jobs data for April revived confidence in the US economic recovery.