AUD/USD climbs to 0.6780 ahead of expected Fed rate cut at 1800 GMT

0.6780 is highest level since Sept 3 (0.6792 was high that day)

Markets see 61% chance of 50 bps Fed cut (25 bps cut fully priced)

AUD/USD might extend north to 0.6824 if Fed delivers half-point cut

0.6824 was August's seven-month high. RBA rate hold expected next week

Dalian iron ore down 4% (iron ore is Australia's biggest export earner)