“The Australian dollar stole the currency market spotlight overnight, rallying on signs the country’s central bank may pause its easing cycle,” The Australian reported Wednesday. Traders pushed the Australian dollar higher due to hints from RBA Governor Glenn Stevens that policy may be on hold for a while going forward, it added.
Still, Reserve Bank Deputy Governor Philip Lowe said the Australian dollar is “uncomfortably high,” according to a Bloomberg News report. The RBA lowered rates six times in the past 14 months to 3%, matching a half-century low reached at the height of the 2009 global recession, Bloomberg said.
CurrencyShares Australian Dollar Trust