Aussie Dollar Rises, Snaps 3-Day Drop, Before Wages Data
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Australia’s dollar advanced, snapping a three-day loss, amid speculation a wage report this week will back the view that interest rates won’t decline.
The New Zealand dollar and the so-called Aussie gained against most of their major peers after a bigger-than-estimated trade surplus in China brightened prospects for commodity exports, and data today showed Australian home-loan approvals rose for a second month. Government bonds in Australia climbed, sending 10-year yields to the lowest in almost four weeks. The Reserve Bank of Australia kept rates at 3.25 percent on Nov. 6.