Aussie Trades Near One-Week High on Commodity Price Gains
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Australia’s dollar rose, trading 0.2 percent from its highest level in more than a week as gains in commodity prices boosted demand for the currency.
The so-called Aussie strengthened versus most of its 16 major counterparts this week after prices for iron ore, Australia’s top export, climbed to the most in more than two months. A report yesterday showed claims for jobless benefits in the U.S. fell to the least since February 2008, buoying risk appetite. Data today may show confidence in the world’s biggest economy stayed near the strongest level since May. New Zealand’s dollar, nicknamed the kiwi, rose as Asian stocks advanced.