(Bloomberg) -- The Australian dollar rose after a
government report showed exports surged to a record in May,
bolstering the outlook for economic growth.
The currency climbed as the report showed the trade deficit
unexpectedly narrowed to the lowest in nine months, helped by
higher commodity prices. The local dollar has increased 15
percent in the past year, the second-biggest gainer among the 16
most-traded currencies, amid rising demand for the raw materials
Australia ships overseas such as gold, iron ore and nickel.
Read more at Bloomberg Currencies News
government report showed exports surged to a record in May,
bolstering the outlook for economic growth.
The currency climbed as the report showed the trade deficit
unexpectedly narrowed to the lowest in nine months, helped by
higher commodity prices. The local dollar has increased 15
percent in the past year, the second-biggest gainer among the 16
most-traded currencies, amid rising demand for the raw materials
Australia ships overseas such as gold, iron ore and nickel.
Read more at Bloomberg Currencies News
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