The Australian dollar climbed on Tuesday against the world's reserve currency after minutes from the Reserve Bank of Australia meeting earlier this month indicated the body is inclined to leave interest rates stable in the near term, according to Bloomberg.
Minutes from the March 4 board meeting were released on Tuesday and stated the bank intends to leave interest rates all record low levels. Australian bonds fell, driving up yields for a second consecutive day on Tuesday.
"The currency has traded very well this year," senior currency strategist Greg Gibbs with RBS told the Sydney Morning Herald on Tuesday regarding the Aussie. "There's been a number of negative stories from China this year, and none of it has weakened the Australian dollar."
The Aussie rose within 0.3 percent of the three-month peak against the greenback during the Tuesday trade session, one day after marking gains of 0.7 percent against its cross-Pacific rival.
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