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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Aussie rises near three-week high against greenback

Sep 12, 2012 10:50 AM

Wednesday saw the monetary unit of Australia climb to its top value in almost three weeks against the world's reserve currency as demand for riskier assets grew, Bloomberg reports.

The Australian dollar also benefited from speculation about the globe's two largest economies preparing to implement strategies of spurring renewed activity, climbing against most of its rivals as the policy-making arm of the U.S. Federal Reserve convenes two days of meetings that end on Thursday. One analyst noted the Aussie is especially sensitive to activity in China, its top trade partner.

"China's slowdown is the biggest downside risk for the Aussie," analyst Junichi Ishikawa with IG Markets Securities Ltd. in Tokyo told Bloomberg. "The currency is likely to be well supported in the long term, however, should we get more stimulus measures from global central banks."

A private report indicated Australia's consumer confidence increased, which also pushed up demand for the monetary unit.

But Dow Jones Newswires reports strategists with HSBC said the Aussie is heading toward a rough patch, noting the impact of lowered interest rates, a fiscal crisis deepening in Europe. and more asset purchases in the U.S.

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