Australian Dollar Hits Highest in 2 ½ years Against U.S. Dollar
- Currency is advancing on vaccine, global growth expectations
- Domestic outlook, weak dollar also underpin Aussie: CBA Europe
Photographer: Owen Humphreys/PA Wire/Bloomberg
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Australia’s dollar broke through 75 U.S. cents to its highest level in two-and-a-half years as investors ramped up bets on a successful vaccine roll-out and improving global growth.
The Aussie rose as much as 0.9% to 75.14 U.S. cents, the highest since June 2018. It has gained almost 7% against the greenback this year as a rebound in China’s economy and recovering iron-ore prices bolster demand for the commodity currency.