[xtypo_dropcap]T[/xtypo_dropcap]he Australian dollar has jumped to a new high on suggestions the Reserve Bank of Australia (RBA) would raise interest rates again.
RBA governor Glenn Stevens hinted as much yesterday at a Food Bowl Unlimited Forum business luncheon in Shepparton, AAP reported.
“The task ahead is likely to be one of managing a fairly robust upswing. Part of that task will, clearly, fall to monetary policy,” he was reported as telling the business audience.
The comments sparked a move on the Aussie dollar from investors wanting to capitalize on higher interest rates. Trading has moved between 94.49 US cents and 94.8 cents since 7 am this morning Bloomberg reported.
“The Australian dollar is very significant because it offers yields, high yields,” Robert Rennie, Westpac’s global head of currency strategy, told the ABC.
“The RBA has been raising rates in a global world where central banks have been cutting rates and moving to quantitative easing.”
The Australian dollar was trading at around 81 US cents in June this year.
RBA governor Glenn Stevens hinted as much yesterday at a Food Bowl Unlimited Forum business luncheon in Shepparton, AAP reported.
“The task ahead is likely to be one of managing a fairly robust upswing. Part of that task will, clearly, fall to monetary policy,” he was reported as telling the business audience.
The comments sparked a move on the Aussie dollar from investors wanting to capitalize on higher interest rates. Trading has moved between 94.49 US cents and 94.8 cents since 7 am this morning Bloomberg reported.
“The Australian dollar is very significant because it offers yields, high yields,” Robert Rennie, Westpac’s global head of currency strategy, told the ABC.
“The RBA has been raising rates in a global world where central banks have been cutting rates and moving to quantitative easing.”
The Australian dollar was trading at around 81 US cents in June this year.
