Australian Dollar Has Biggest Weekly Rally Since February 2009
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The Australian and New Zealand dollars extended their second straight weekly gains on increased demand for higher-yielding assets as Group of 20 finance ministers met to prevent Europe’s debt crisis from slowing global growth.
The Aussie had its biggest five-day rally versus its U.S. counterpart in almost three years. Both South Pacific currencies fell earlier today against the yen after Standard & Poor’s cut Spain’s credit rating.