The Australian dollar recovered to US93.2� in late trade on Thursday after almost falling through the US93� mark the previous night, as data showed the US economy grew at a surprisingly rapid pace in the June quarter.
The Australian dollar has drifted back below US94� as the greenback strengthens on dwindling risk appetite. At 10:15am AEST on Monday, the local currency was trading at US93.92, down from 94.15 cents on Friday.
The Reserve Bank may be forced to cut the official cash rate before the end of the year to beat back of a wall of foreign money that has driven the Australian dollar higher, according to Goldman Sachs Asset Management's bond expert Phil Moffitt ...
The Australian dollar rose to its highest level in two weeks against the U.S. dollar and the yen Wednesday after inflation data dented investors' expectations that Australia's central bank would cut interest rates before 2015.