Australian Dollar Hits Highest in 2 ½ years Against U.S. Dollar

Australian Dollar Hits Highest in 2 ½ years Against U.S. Dollar

© Reuters.  Australian Dollar Hits Highest in 2 ½ years Against U.S. Dollar © Reuters. Australian Dollar Hits Highest in 2 ½ years Against U.S. Dollar

(Bloomberg) — Australia’s dollar broke through 75 U.S. cents to its highest level in two-and-a-half years as investors ramped up bets on a successful vaccine roll-out and improving global growth.

The Aussie rose as much as 0.8% to 75.04 U.S. cents, the highest since June 2018. It has gained 6.8% against the greenback this year as a rebound in China’s economy and recovering iron-ore prices bolster demand for the commodity currency.

©2020 Bloomberg L.P.

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