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The Australian dollar is the official currency of the Commonwealth of Australia. It is often called the Aussie by Forex traders. The currency was implemented in 1966 and allowed to freely float at 1983. Australia has an export-driven economy (the mining sector represents 19% of GDP), therefore the value of the Aussie depends on commodity prices. Australia has strong trading ties with Asia, particularly China, so economic growth in that region has a particularly strong impact on Australia’s currency. The Aussie is used in carry trade because of the relatively high interest rates in Australia.

Australian Dollar News Archive

Aussie Dollar May Gain on Commodities

The Australian dollar may start the year gaining against refuge currencies like the yen, and currently not so attractive currencies like the pound and the euro as a global recovery expected for 2010 may trigger stronger demand for commodity exports from Australia, favoring the national currency in foreign-exchange markets.

Australian Dollar to Decline on Interest Rate Outlook

The Australian dollar posted a significant decline this week and may extended its losses versus currencies like the U.S. and the Canadian dollar after policy makers affirmed that interest rates may not be hiked further in the short term, decreasing attractiveness for the Aussie dollar in currency markets.

Aussie Dollar Drops on Monetary Policy Change

The Australian dollar has been one of the best performers in currency markets during the past few months as it was the first country to raise interest rates among the wealthy nations, today the sentiment towards the Aussie changed after surprising statements from the country’s financial authorities.

Aussie Dollar Up On Renewed Dubai Optimism

After trading near $0.90 in the end of the last week as the U.S. dollar rose against its Australian counterpart, the Aussie, pushed by renewed risk appetite, managed to climb significantly not only versus the greenback but also lower-yielding currencies.

Australian Dollar Rebounds Before U.S. Jobs Data

After declining considerably yesterday versus the greenback, the Aussie dollar recovered today and is heading towards another weekly gain versus its U.S. counterpart as a report is likely to post favorable employment figures in the world’s largest energy consumer, raising demand for commodity linked currencies.

Aussie Dollar Rocketing on Rates Hike

The Australian dollar rose versus most of the 16 main traded currencies as interest rates were once again raised in the country, making the Aussie currency one of the most attractive investment in foreign-exchange markets this year.

Australian Dollar Rises on Official Comments

The Australian dollar had a sharp rally today versus most of the 16 main traded currencies after a government official made positive comments regarding the future outlook of the Australian economy, creating speculations that interest rates will be hiked further in the South Pacific nation.

Australian Dollar Posts Weekly Drop on Stocks

The Australian dollar had one of the weakest performs in the past months this week as stocks declined worldwide, declining attractiveness for riskier assets as the opportunities available in the Australian high-yielding financial markets, forcing also the New Zealand currency down.

Aussie Dollar Extends Record High on Jobs Data

The Australian dollar continued its yearly rally to set a new record high in 2009 after a report indicated an improved number of monthly jobs added in October, suggesting that the nation’s central bank is likely to continue its current policy of rate hikes for the next meeting.

Australian Dollar Remains Bullish on China Growth

The Australian dollar, the second best performing currency in trading markets this year after the Brazilian real, climbed further as China, its main trading partner, posted positive economic figures this Wednesday, adding confidence to the already attractive Aussie.