Australian dollar improved its positions against U.S. dollar and Japanese yen today after the very successful Asian/Australian stock markets session and some promising report on the country’s economy.
AUD/USD increased 1% — a largest gain since last Wednesday, whereas AUD/JPY gained a little more than 0.9%.
The growth of the Australian dollar was sprung after the country’s stock market along with the Japanese one began to recover the losses. Report showing the rise of the car sales, helped investors to regain confidence in the Australia’s
November motor vehicle sales in Australia rose by 1.1%, which, amidst the global financial, crisis spurred more bullish tendencies among the stock traders. Meanwhile some minor rebirth of the carry trade and speculation on the possible central bank’s interest rates hike in the beginning of the next year strengthened Australian currency on Forex.
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