The Australian dollar is surging — here's what's happening in FX

Good morning!
The Australian dollar is surging, up 1.1% to .7262 per dollar.
On Monday, the Aussie dollar briefly traded near .7150 in early Asian trade before closing little changed near .7180.
"Provided it holds above $0.7220 now, it can work its way a bit higher," wrote Marc Chandler, the global head of currency strategy at Brown Brothers Harriman, in a morning note to clients."As a mile marker, note that the 20-day moving average is found near $0.7285," he added. "The Aussie h