ASX rises 0.7% following Wall Street rebound

The ASX opened 0.7% higher, following a recovery on Wall Street. Bargain hunters contributed to this rebound after a previous decline in the market. Developed nations' currencies have strengthened against the US dollar this year. The euro, Aussie dollar, and yen have all seen gains, reversing losses from late 2024. The euro's rise is linked to increased spending in Europe, while Japan's improving economy has boosted the yen. Sweden's krona has surged nearly 9%, benefiting from a strong economy and a robust defense industry.