The Australian Dollar may rise on the bet that the Reserve Bank of Australia (RBA) will raise key interest rates tomorrow for the third time this year. In the past month, the Aussie Dollar gained 3.7 percent as strong economic reports boosted the chances of another rate increase. In forex trading, the Australian Dollar bought 77.00 US. cents as of 2:37 pm in Sydney in comparison to last weeks 76.99 US. cents close. ''We like the Australian dollar,'' said Danica Hampton, a currency strategist at Bank of New Zealand Ltd. in Auckland." The Australian currency will move between 76.75 US. cents and 77.20 US. cents, Hampton said.
Australian prices of goods and services was unchanged in October for a second month according to a monthly gauge by TD Securities Ltd. Interest rate futures contracts show a 94 percent chance that the RBA will lift interest rates this week compared to last months measure of 44 percent, according to an indicator calculated by Credit Suisse.
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