Australian Dollar Gains; Fed Raises Rate, Says Inflation Eased
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The Australian dollar rose after the Federal Reserve raised its target interest rate by a quarter percentage point and said inflation has slowed.
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The dollar perked up ahead of a key speech from US Federal Reserve Chairman Alan Greenspan which was expected to set the scene for future rises in American interest rates.
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The Reserve Bank says there has been a sharp increase in activity on Australia&#39;s foreign exchange markets over the past three years.
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The dollar extended its losses on  Tuesday after the Federal Reserve raised interest rates as  expected but signaled that both inflation and inflation  expectations were easing.
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The dollar gained against the euro on  Wednesday, retracing losses posted earlier in the session, as  markets digested an inflation report that did little to alter  expectations about future U.S. interest rate rises.
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The dollar extended its losses against  the euro on Tuesday after the Federal Reserve raised interest  rates as expected but signaled that both inflation and  inflation expectations were easing.
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The dollar gained ground after a better-than-expected US retail sales report for November eased concerns that the housing market slowdown was affecting consumption.
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The dollar rose above an all-time low against the euro on Tuesday, while stocks and bonds ended little changed as markets stayed cautious before the Federal Reserve's Wednesday meeting on interest rates.
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The dollar jumped against the euro on  Friday, building on overnight gains made after the European  Central Bank reiterated that Asian currencies should be more  flexible, taking pressure off the single currency to climb.
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The dollar rose above an all-time low  against the euro on Tuesday, while stocks and bonds ended  little changed as markets stayed cautious before the Federal  Reserve's Wednesday meeting on interest rates.
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NEW YORK The dollar rose Wednesday after a Federal Reserve report showed that New York area manufacturing surged this month, evidence the economy may be gaining momentum.
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The New Zealand dollar bumped up another notch to three week highs on Tuesday despite the US dollar&#39;s gains, the local currency hitching a ride with the stronger Australian dollar.
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The Australian dollar headed for its sixth weekly gain, the longest winning streak in more than a year, on optimism raw-material exports to China will increase after a report showed economic growth there.
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Australia&#39;s central bank says there is no pressing need for higher interest rates just now, although it still expects to tighten policy again at some stage in the current expansion amid &quot;favorable&quot; economic circumstances.
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The dollar extended gains against the euro on Wednesday amid heightened prospects that the U.S. Federal Reserve would continue to raise interest rates due to its outlook for higher inflation.
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Pressure grew on Australia's central bank on Wednesday to raise interest rates despite the turmoil in global stock markets and fears of a US recession after new data showed core inflation surged to a 16-year high in the final quarter of 2007.
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THE Australian dollar was trading stronger today as news of a takeover bid for Australian mining company WMC Resources supported the currency during morning trading.