Export & Import Prices Push Aussie Higher

The Australian dollar gained today versus the euro and the Japanese yen as the advance of import and export prices prompted the speculation that the central bank will raise interest rates.

Australian import prices rose 0.8 percent in the second quarter, while export prices increased by 6.0 percent. The MSCI Asia Pacific Index of regional shares climbed 1.1 percent. The positive economic data caused most market participants to bet that the next move of the Reserve Bank of Australia will be hike, not cut.

AUD/JPY climbed from 84.87 to 85.20, while EUR/AUD fell from 1.3302 to 1.3284 as of 8:35 GMT today.

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Earlier News About the Australian Dollar:
» Aussie Goes Lower as China's Manufacturing Slows (2011-07-21)
» AUD/USD Trades Higher After RBA Minutes (2011-07-19)
» Aussies Goes Down as Europe Hurts Risk Appetite (2011-07-18)
» AUD Fall with Stocks & Commodities on Concerns for Global Growth (2011-07-15)
» Aussie Heads Down on Europe Woes & China's Growth (2011-07-11)