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 â 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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