Aussie Rallies for Second Day on Stocks & Economic Outlook

The Australian dollar rallied against its US counterpart today after the Asian stocks rose, increasing the demand for the riskier higher-yielding currencies, and on the improving outlook for the global economic growth.

The MSCI Asia Pacific Index of shares rose 0.3 percent today, the third day of the advances. The Aussie was also bolster after the Minutes of the Monetary Policy Meeting of the Reserve Bank Board said that “sentiment in financial markets had improved over the past month” and “the global economy was continuing to expand”.

AUD/USD rose from 0.8979 to 0.9031 today as of 14:23 GMT after dropping to the daily low of 0.8944.

If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.