Australian Dollar Reaches New Highs
October 14th, 2009 Posted in Aussie - Kiwi
The Australian Dollar climbed to its highest level since August 2008 after a report showed China’s exports fell at the slowest pace in nine months in September. China is Australia’s largest trading partner. The Aussie strengthened against 15 of its 16 major counterparts after China said shipments of iron ore, Australia’s biggest raw materials export, soared 30% in September.
Demand for higher yielding currencies as well as signs that Australia’s economic recovery is strengthening also boosted the Aussie with consumer confidence rising to the highest level in more than two years. The AUD is currently trading at 0.9130 against the U.S Dollar.
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Tags: AUD trading, AUD/USD, Aussie trading
