Today during the Asian trading session on Forex Australian dollar continued its bullish trend against the U.S. dollar and reached the new maximum value since 14th of November, 2007.
This gain follows up the previous week of growth on AUD/USD, which has yielded more than 2.7% rise to the Aussie.
The driver of the todayâs growth is the widely spread speculation that the Reserve Bank of Australia will go for the rate increase tomorrow. If the interest rate in Australia will reach the highest level in 12 years â going from 6.75% to 7.00% it will definitely spur the willingness of the investors to buy this currency.
Australian dollar has been gaining as much as 45 pips earlier today against the U.S. dollar, but now it has already retraced back and AUD/USD is trading around 0.9064 (with the daily opening rate at 0.9030).
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