Australian Dollar Advances to Record on Global Recovery Signs
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The Australian dollar rose to a record against its U.S. counterpart as stocks and commodities rallied, boosting demand for assets linked to growth.
Australia’s currency advanced for a second day against the greenback after a government report showed prices increased for the South Pacific nation’s exports, giving the central bank more reason to raise interest rates. The Australian and New Zealand dollars strengthened versus the yen amid gains in raw materials, which account for more than half of the nations’ exports.