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AUD Reaches Record High

Posted by admin On 10:15 AM
By: Sara Patterson After the Australian government proved that producer prices surpassed estimated prices, the Australian dollar climbed to a new high. The New Zealand dollar also rose against the US dollar to a three-year high as speculation increased that New Zealand central bank will raise interest rates over the next year.

The Australian dollar climbed to $1.0766, up from $1.0714 in New York yesterday, after reaching $1.0772, the strongest since it was freely floated in 1983. The Australian Dollar was at 88.33 yen from 88.45 yen, while the New Zealand’s dollar rose to 80.34 U.S. cents, up 0.7% the highest level since March 2008.

Analysts noted that the Australian Dollar has risen 3.8% in the past 6 months and has outperformed other dollar currencies, including the New Zealand dollar and the Canadian dollar. The country’s bonds, however, fell for the second consecutive day. 

http://www.dailyforex.com/forex-news/2011/04/AUD-Reaches-Record-High/7734

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