The Australian dollar jumped today to the highest level in more than two months after the report showed that the Australian Producer Price Index advanced in the last quarter of 2011.
The PPI rose 0.3 percent in the fourth quarter after increasing 0.6 percent in the previous three months. The rise of the index was caused mainly by advancing prices for manufactured goods, while prices for agricultural commodities declined. The Australian dollar reacted positively to the report, rising to the highest rate since the beginning of November.
AUD/USD climbed from 1.0477 to 1.0550 and AUD/JPY advanced from 80.61 to 81.13 as of 12:42 GMT today.
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