The Australian dollar rose after hawkish remarks from the central bank’s head. It was the ninth gain in 10 business days against the Japanese yen and the sixth one in seven days versus the US dollar.
Glenn Stevens, Reserve Bank of Australia Governor, was testifying before the House of Representatives Economics Committee today. While he mentioned concerns about slowing growth of China, his comments were considered hawkish by market analysts. Stevens said that the economy “is not as bad as much commentary that I read would lead one to believe.”
AUD/USD rose from 0.7166 to 0.7224 as of 15:35 GMT today, touching 0.7279 intraday — the highest rate since August 24. AUD/JPY gained from 85.96 to 86.51.
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