Wednesday, April 4, 2012
Aussie Rises on Asian Stocks, Heads to Weekly Loss
The MSCI Asia Pacific Index of shares climbed 2.1 percent, while the MSCI World Index jumped 2.1 percent yesterday. Investors bet that Reserve Bank of Australia Governor Glenn Stevens will cut the interest rates by at least 75 basis points by December. Currently, the key rate in Australia stands at 4.75 percent.
AUD/USD rose from 1.0326 to 1.0362 and EUR/AUD dropped from 1.3432 to 1.3290 as of 14:59 GMT.
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