Aussie, Kiwi Dollar Rise on Regional Economic Optimism

Aussie, Kiwi Dollar Rise on Regional Economic Optimism

The Australian dollar climbed to a record after a government report showed producer prices rose more than economists estimated in the first quarter, providing additional evidence that growth is quickening.

The so-called Aussie strengthened for a third day and New Zealand?s advanced for a second versus the U.S. currency as stock gains boosted demand for the nations? higher-yielding assets. New Zealand?s dollar reached a three-year high versus the greenback as traders added to bets the central bank will raise interest rates over the next 12 months.

Source: Aussie, Kiwi Dollar Rise on Regional Economic Optimism