Australian Dollar Advances Amid Stock Gains, Bets on BOJ
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The Australian dollar rose against most of its major peers after President Barack Obama expressed confidence that the U.S. can avoid the so-called fiscal cliff, boosting stocks and buoying demand for higher-yielding assets.
The so-called Aussie reached its strongest level in more than six months against the yen as the Bank of Japan meets today and tomorrow with political pressure mounting for more monetary stimulus. New Zealand’s dollar, known as the kiwi, maintained an advance after data showed its services industry expanded at the fastest pace in almost five years.