The Australian dollar touched the record price in 11 months versus the Japanese yen today as stocks rallied, but retreated on the forecast that the central bank will leave the interest rates unchanged.
The MSCI Asia Pacific Index of regional shares rose 0.5 percent. The Thomson Reuters/Jefferies CRB Index of raw materials gained 0.2 percent. The Australian dollar is a currency related to growth, and as such gains of stocks and commodities are beneficial to it this currency. May futures for crude oil delivery rose 0.1 percent to $108.09 per barrel in New York, following the previous decline by 0.3 percent.
Economists think that the Reserve Bank of Australia will keep the interest rates unchanged at 4.75 for the fourth time. The difference between the relatively high interest rates in Australia and the low rates in such countries as the US and Japan attract investors interested in
AUD/JPY traded at 87.19 as of 23:05 GMT today after it jumped earlier from 87.54 to 87.67, the highest level since May. AUD/USD fell from 1.0399 to 1.0364.
If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.