Magnetoresistive read head having an exchange layer

A magnetoresistive read transducer for sensing magnetic signals and converting said signals to electrical signals, comprising:

• a unitary magnetoresistive layer;
• a spacer layer formed over said magnetorsistive layer;
• a soft active layer for providing magnetic bias to said transducer formed over said spacer layer;
• an antiferromagnetic exchange layer deposited over said soft active layer for generating an exchange field along a direction transverse to said soft adjacent layer, and for reducing the sense current required to saturate said soft active layer;
• said magnetoresistive layer, said spacer layer, said soft active layer, and said antiferromagnetic exchange layer being coextensive and having aligned ends;
• hard magnetic biasing layers in contact with all of said aligned ends for providing longitudinal bias to said transducer;
• and
• conductive elements formed over said hard magnetic bias layers;
• whereby a sense voltage is generated in said transducer when said transducer is passed over magnetic storage media.