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Australian Dollar Rises as RBA’s Battellino Sees 'New Upswing'
The Australian dollar rose after central bank deputy governor Ric Battellino said the economy has entered a “new upswing,” fueling speculation policy makers will raise interest rates for a record third month next week. New Zealand’s currency was little changed, after weakening yesterday by the most in three days, as U.S. stocks dropped and investors sold higher-yielding assets before tomorrow’s Thanksgiving holiday. There’s a 76 percent chance the Reserve Bank of Australia will increase borrowing costs when it meets on Dec. 1, according to a Credit Suisse AG index based on swaps. “The idea that the ... (full story)