Aussie Reaches 9-Month High Versus Yen Before RBA Meeting
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Australia’s dollar reached a nine-month high versus the yen as an improving global growth outlook spurred prospects the Reserve Bank will keep its key interest rate unchanged next week.
The so-called Aussie strengthened against 12 of its 16 major counterparts this week after U.S. reports showed manufacturing expanded in February and jobless claims matched a four-year low last week. New Zealand’s dollar erased an earlier increase against the yen as global stocks fell. Both South Pacific currencies declined versus the dollar as weaker retail sales in Europe curbed demand for higher-yielding assets.