The Australian dollar rose against the US dollar and the euro today after the release of yet another positive leading index from Australia.
The Westpac-Melbourne Institute Leading Index showed an improvement in August. The report said:
The Leading Index is clearly signalling that the economy is likely to continuing growing around its long run trend rate of about 3% a year.
Earlier this week, Conference Board released its leading index for Australia, which was also pretty good.
AUD/USD rose from 0.7553 to 0.7583 as of 15:58 GMT today. EUR/AUD dropped from 1.4754 to 1.4715.
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