The Australian dollar reached the biggest gain in nine months in Forex Trading online after signs of the global economic recovery boosted demand for higher-yielding currencies. Australia’s employment rolls rose by 45,900 in June, as Australian statistics bureau reported yesterday.
The Australian dollar was at 87.59 U.S. cents as in New York yesterday, when it touched 87.91 cents, the highest level since June 22. It has climbed 4.1 percent this week, the most since October.
The New Zealand dollar was set for the largest weekly advance in a month after commodities climbed worldwide. European Central Bank President Jean-Claude Trichet said “the economic recovery is gaining momentum”.
New Zealand’s dollar was at 70.82 U.S. cents from 68.84 cents on July 2. It touched 71.03 U.S. cents yesterday, the strongest since June 28. It’s risen 2.9 percent this week, the most since June 11. The so-called kiwi was at 62.68 yen from 60.51 yen a week ago.