Aussie Dollar Trades Near 3-Week High Before Fed Outcome

The Australian dollar traded 0.3 percent from the highest level in three weeks on speculation the Federal Reserve will signal further stimulus that tends to debase the U.S. currency.

The so-called Aussie and New Zealand’s dollar maintained two days of gains after Germany’s top constitutional court cleared the way yesterday for the nation’s ratification of the euro area’s permanent bailout fund. New Zealand’s currency, known as the kiwi, was close to a more-than four-month high after the Reserve Bank kept its benchmark interest rate unchanged today.