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Aussie Rallies as Business Confidence Improves

October 8, 2013 at 13:11 by Vladimir Vyun

Various Australian dollar notesThe Australian dollar rallied today despite concerns about the situation in the United States that made the currency drop yesterday. The Aussie profited from improving business confidence.

The business confidence index of the National Australia Bank climbed from 4 in August to 12 in September. The report said:

Confidence surges to its highest level in 3½ years. Business conditions, however, still subdued – with employment poor.

AUD/USD rallied from 0.9426 to 0.9476 and AUD/JPY advanced from 91.15 to 92.04 as of 13:08 GMT today.

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