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Australian dollar at fresh high as commodity prices rise

Posted on 22 October 2013

The Australian dollar rose to a fresh four-month high today, supported by rising commodity prices and perceptions the RBA has finished cutting interest rates. At 5pm (AEST), the Australian dollar was trading around US96.73c compared with US96.27c late on Friday. It traded as high as US96.81c during the day.
Prices for iron ore, Australia’s biggest export, have remained resilient despite the ramp-up in world supply, pointing to signs of robust Chinese steel industry activity, said Ray Attrill, head of currency strategy at National Australia Bank………………………………………..Full Article: Source


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