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Australian and N.Z. Dollars Rise on China’s Growth
July
20
2010
The Australian and New Zealand dollars rose significantly against the other major currencies today as the Chinese stock market demonstrated growth on talks that the government may easy the investment regulations.
The Aussie and the loonie both rallied against the U.S. dollar and the Japanese yen today, with the former posting a second bullish day in a row. Analysts expect the Chinese consumer sector to be the major growth-factor for Australia’s largest and New Zealand’s second largest trade partner. Apart from the China-based gains, the currencies also benefited from the speculations that the Bank of Japan will have to intervene soon to move the yen down from the current too strong level, which is threatening the production industry.





