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Economics

Aussie, Kiwi Advance for Third Day on Growth Outlook

The Australian and New Zealand dollars climbed for a third day as U.S. economic reports eased concern the world’s largest economy is faltering, boosting demand for higher-yielding assets.

The so-called Aussie headed for its biggest monthly gain versus its U.S. counterpart since January as traders added to bets the Reserve Bank of Australia will keep rates unchanged next week as long as Europe’s debt crisis doesn’t worsen. New Zealand’s currency, nicknamed the kiwi, was set for the second-biggest gain in June among the greenback’s 16 major peers as Asian stocks extended a global advance.