Australian Dollar Climbs to Highest Since Oct. 2024 on RBA Bets

The Australian dollar climbed to its strongest in more than a year after traders ratchet expectations the Reserve Bank will quickly shift to raising interest rates early next year.

The Aussie rose 0.2% to 67.13 US cents, the highest since October 2024. The move extends its gain to 1.5% this quarter, among the best performing major developed market currencies.