“Australia’s dollar rose after reports today showed improvement in retail sales and trade, boosting prospects the Reserve Bank will leave borrowing costs unchanged at a meeting next week.
Gains in the so-called Aussie and its New Zealand counterpart were tempered on speculation any measures from European Central Bank policy makers meeting today won’t be enough to resolve the region’s debt crisis. The Federal Reserve yesterday refrained from new action to stimulate the world’s largest economy. The so-called kiwi strengthened after whole- milk powder prices climbed for the first time in six weeks.”
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