Aussie, N.Z. Dollars Rise as Fed Adopts More Monetary Stimulus
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The Australian and New Zealand dollars rose against their U.S. peer after the Federal Reserve added to its monetary-stimulus program, renewing concern the measures will debase the U.S. currency.
Australia’s dollar strengthened to almost a three-month high versus the greenback after the U.S. central bank said it will buy an additional $45 billion of Treasuries a month. The New Zealand dollar traded at its highest level in more than four years versus the yen as the country’s Liberal Democratic Party, which has pledged fiscal stimulus, leads in polls before Dec. 16 elections. Reserve Bank of Australia Governor Glenn Stevens delivered a speech in Bangkok yesterday.