(Bloomberg) -- The Australian dollar traded near an
18-year high as prices of raw materials the country exports rose.
The currency touched the strongest since February 1989 on
July 13 as a measure of six metals on the London Metal Exchange
gained 0.2 percent and gold for immediate delivery climbed to
the highest in five weeks. Commodity exports add about 14
percent to Australia's economic growth. The nation's dollar also
strengthened after a U.S. government report on July 13 showed
retail sales dropped the most in almost two years.
Read more at Bloomberg Currencies News
18-year high as prices of raw materials the country exports rose.
The currency touched the strongest since February 1989 on
July 13 as a measure of six metals on the London Metal Exchange
gained 0.2 percent and gold for immediate delivery climbed to
the highest in five weeks. Commodity exports add about 14
percent to Australia's economic growth. The nation's dollar also
strengthened after a U.S. government report on July 13 showed
retail sales dropped the most in almost two years.
Read more at Bloomberg Currencies News
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