Australia’s dollar gained against most major peers after the
country’s central bank said stronger demand from China and an improved global
outlook have spurred prices for commodities.
The so-called Aussie also rose against the U.S. dollar ahead
of Reserve Bank of Australia Governor Glenn Stevens’ semi- annual testimony
before a parliamentary panel on Feb. 22. New Zealand’s dollar was little
changed for a second day, maintaining last week’s advance against the
greenback, as swap rates climb in the smaller nation.
“The RBA did acknowledge the better run of international
data received between the two meetings and the effect that has had on commodity
prices,” said Andrew Salter, a currency strategist at Australia & New
Zealand Banking Group Ltd. in Sydney. The Aussie “has caught a bid,” he said.
Australia’s dollar rose 0.1 percent to $1.0320 as of 12:10
p.m. in Sydney from $1.0306 yesterday. It fetched 96.85 yen, little changed
from yesterday.
New Zealand’s currency traded little changed at 84.47 U.S.
cents and dropped 0.2 percent to 79.27 yen.
(Source: Bloomberg)
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