The Australian dollar reached today the highest level in two years against its US counterpart as the improving market sentiment and the outlook for the increasing stimulus from the US Federal Reserve boosted the appeal of the riskier currencies.
The MSCI Asia Pacific Index of shares climbed as much as 1.2 percent, the biggest gain in two weeks. The wagers indicate 66 percent chance of the interest rates increase by the central bank next week. The Australian dollar was second best performed currency among its 16 most traded counterparts this quarter.
AUD/USD traded near its opening level of 0.9604 today as of 11:11 GMT after it touched 0.9623, the highest level since July 2008.
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