Australian Dollar Rises Third Day Amid Bond Offering; Kiwi Drops
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Australia’s dollar rose for a third straight day against its U.S. counterpart as the government’s sale of its longest-ever bond maturity signaled strong demand for the South Pacific country’s debt.
Money-market rates in China, Australia’s biggest trade partner, dropped for a second day yesterday on speculation cash supply will increase as the central bank adds funds to the financial system. New Zealand’s dollar, nicknamed the kiwi, weakened versus most major peers as global stocks declined amid lower risk appetite.