(Bloomberg) -- The Australian dollar extended an
18-year high after Reserve Bank of Australia Governor Glenn
Stevens said the nation's terms of trade, at the strongest in a
century, were supporting the currency.
Australia's dollar also rebounded to a 16-year high versus
the yen as Stevens said ``I don't think it's that surprising
that we have a pretty high effective exchange rate.'' The
country's terms of trade, which measures the prices a country
gets for exports compared with those paid for imports, has
surged in the past five years as the price of commodities gained.
Read more at Bloomberg Currencies News
18-year high after Reserve Bank of Australia Governor Glenn
Stevens said the nation's terms of trade, at the strongest in a
century, were supporting the currency.
Australia's dollar also rebounded to a 16-year high versus
the yen as Stevens said ``I don't think it's that surprising
that we have a pretty high effective exchange rate.'' The
country's terms of trade, which measures the prices a country
gets for exports compared with those paid for imports, has
surged in the past five years as the price of commodities gained.
Read more at Bloomberg Currencies News
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