Economics
Aussie Dollar Set for Weekly Gain as Stocks Rally; Yields Rise
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The Australian dollar was poised for a gain this week after global stocks rallied, buoying demand for riskier assets.
Ten-year bond yields climbed to the highest in almost a month amid speculation European finance ministers will agree on an aid package for Greece. Data this week also indicated manufacturing is improving in China, Australia’s largest trading partner, boosting demand for the so-called Aussie. The New Zealand dollar headed for a weekly advance.