(Bloomberg) -- The Australian dollar traded near an
18-year high against the U.S. currency and the strongest in 16
years versus the yen as the prices of raw materials the nation
exports rose.
The currency gained for a sixth day against the yen as a
measure of six metals on the London Metal Exchange, including
copper and aluminum, climbed 0.7 percent yesterday. Commodity
exports add about 14 percent to Australia's gross domestic
product. It also advanced a second day against the U.S. dollar
after the Federal Reserve lowered its economic growth forecast.
Read more at Bloomberg Currencies News
18-year high against the U.S. currency and the strongest in 16
years versus the yen as the prices of raw materials the nation
exports rose.
The currency gained for a sixth day against the yen as a
measure of six metals on the London Metal Exchange, including
copper and aluminum, climbed 0.7 percent yesterday. Commodity
exports add about 14 percent to Australia's gross domestic
product. It also advanced a second day against the U.S. dollar
after the Federal Reserve lowered its economic growth forecast.
Read more at Bloomberg Currencies News
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