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Australian dollar 'could go as high as US85¢'
The Australian dollar appears poised to rise to US80¢ soon, buoyed by the dual forces of a domestic economy where the mood is becoming decidedly more upbeat, just as financial markets are losing faith in the prospects for more US interest rate rises. The currency hit a more than two-year high on Tuesday after the Reserve Bank of Australia minutes showed the board holds a more hawkish view of the economy's neutral rate than consensus suggests, sending the currency to a high of US79.07¢ for a US1¢ intraday jump. Earlier, the euro broke through the critical $US1.15 level for the first time in more than a year. ... (full story)