(Bloomberg) -- The Australian dollar traded close
to an 18-year high on bets the central bank will raise the
interest rate next month, making the country's bond yields more
attractive for overseas investors.
The local dollar has gained against all 16 most-active
currencies this month as the odds of the Reserve Bank of
Australia raising rates a quarter-point on Aug. 8 climbed to 79
percent from 5 percent at the end of June, according to a Credit
Suisse Group index based on the exchange of interest-rate swaps.
Traders added to bets after a report yesterday showed inflation
was faster than expected in the second quarter.
Read more at Bloomberg Currencies News
to an 18-year high on bets the central bank will raise the
interest rate next month, making the country's bond yields more
attractive for overseas investors.
The local dollar has gained against all 16 most-active
currencies this month as the odds of the Reserve Bank of
Australia raising rates a quarter-point on Aug. 8 climbed to 79
percent from 5 percent at the end of June, according to a Credit
Suisse Group index based on the exchange of interest-rate swaps.
Traders added to bets after a report yesterday showed inflation
was faster than expected in the second quarter.
Read more at Bloomberg Currencies News
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