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Australia Dollar Rises as RBA Governor Stevens Says Rate Increase Needed

The Australian dollar rose, erasing early losses, after Reserve Bank Governor said interest-rate increases were needed.

The so-called Aussie rose 0.2 percent to $1.0705 as of 1:03 p.m. in Sydney.

To contact the reporter on this story: Monami Yui in Tokyo at myui1@bloomberg.net

To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net

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