(Bloomberg) -- The Australian dollar traded near an
18-year high against the U.S. currency as prices of raw
materials the country exports rose.
The currency may gain a 12th straight day after the Westpac
Commodity Futures Index, an export weighted average of exchange-
traded commodity futures prices, advanced 4.5 percent on July 20
to an all-time high. The local dollar has surged 17 percent over
the past 12 months as demand from China has pushed up prices of
raw materials, which add about 14 percent to Australia's economy.
Read more at Bloomberg Currencies News
18-year high against the U.S. currency as prices of raw
materials the country exports rose.
The currency may gain a 12th straight day after the Westpac
Commodity Futures Index, an export weighted average of exchange-
traded commodity futures prices, advanced 4.5 percent on July 20
to an all-time high. The local dollar has surged 17 percent over
the past 12 months as demand from China has pushed up prices of
raw materials, which add about 14 percent to Australia's economy.
Read more at Bloomberg Currencies News
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