Australian Dollar Rises Following Business Confidence

The Australian dollar rose today as data released over the trading session revealed that the business confidence improved last month.

National Australia Bank reported the business confidence index rose from 5 to 7 in September. The report was fairly optimistic, saying:

Business conditions stayed rock solid in September, while confidence edged up following the big decline last month.

Almost all industries fared well with one notable exception:

Retail continues to be the main exception – with conditions at negative levels.

AUD/USD rose from 0.7752 to 0.7781 as of 9:39 GMT today. AUD/JPY advanced from 87.34 to 87.47, though the currency pair retreated from the daily high of 87.76.

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