Australia is forecast to be among the three fastest-growing economies in the developed world this year, making it harder for the central bank to convince currency investors it isn’t about to raise interest rates.
Australia’s dollar rose for a third day after Turkey’s central bank raised rates to arrest a run on the lira that had roiled risk appetite. The kiwi gained before New Zealand’s central bank meets tomorrow.
The Australian dollar touched a one- month high after the Reserve Bank said there were further signs easy policy and a weak currency were having an impact. Strength in the Aussie won’t be sustained, BlackRock Inc. said.