Aussie Rises to Two-Year High on Stevens’ Interest-Rate View
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Australia’s dollar rose to a two-year high after Reserve Bank Governor Glenn Stevens signaled policy makers may need to resume raising interest rates should a mining boom stoke the economy next year and boost inflation.
The currency has gained 6.4 percent this month as traders raised to 31 percent the chance that the central bank will increase the target lending rate on Oct. 5. Tomorrow the RBA will release minutes of this month’s meeting, when it extended a pause in raising borrowing costs.