Aussie Dollar Advances as Stimulus Bets Boost Risk Demand
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The Australian dollar touched the highest in almost three weeks as demand for riskier assets rose amid speculation the U.S. and China will take more steps to stimulate the world’s largest economies.
The so-called Aussie and New Zealand’s dollar strengthened against most of their major counterparts before the Federal Reserve opens a two-day policy meeting today, while Germany’s constitutional court is set to decide on the country’s participation in Europe’s bailout fund. Demand for Australia’s currency was also supported after a private report today showed an improvement in Australian consumer confidence.