Tuesday saw the Australian dollar push to its top value against the U.S. dollar since September after the Reserve Bank of Australia declined to change interest rates and implement additional monetary easing policies, Bloomberg reports.
The Aussie achieved gains against all of its 16 top rivals after Governor Glenn Stevens and his peers left interest rates at 3.25 percent, which represents a present-day high for developed nations. But with Election Day in the U.S., demand for the monetary unit was wavering, which also was influenced by preoccupations about efforts by Greece to acquire additional bailout funding in its battle against the sovereign debt crisis.
"At today's meeting, the Board judged that, with inflation expected to be consistent with the target and growth close to trend, but with a more subdued international outlook than was the case a few months ago, the stance of monetary policy remained appropriate," according to a statement attributed to the governor of the bank of Australia, cited by Bloomberg.
Demand for the New Zealand dollar also was weaker than usual on Tuesday.
The Aussie hurtled to its highest rate in five weeks against the U.S. dollar, The Financial Times reports.
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