31 Mar '11, 2am

Aussie dollar hits new high

Aussie dollar hits new high

SYDNEY: The Australian dollar moved further into record territory against the greenback on Thursday, soaring to a new post-float high. The commodities-backed currency touched $1.0347, its highest since being floated in 1983. It slowly appreciated after official figures showed retail spending in Australia increased 0.5 per cent in February, analysts said. Australian Bureau of Statistics data also showed building approvals fell 7.4 per cent in the same month. Analysts have said the Aussie should remain above parity for the foreseeable future and possibly reach $1.10 by year end.

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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