Australia’s dollar rose to the highest in three weeks after business investment in the nation unexpectedly climbed. The U.S. currency headed for its third-straight decline against major counterparts.
The Aussie rose against all 16 most-traded peers. The greenback weakened as analysts projected data today will indicate the U.S. economy grew at a slower pace than earlier estimated.
“The key thing is that forward-looking investment intentions have been revised up once again,” said David Forrester, a senior vice president for Group of 10 foreign-exchange strategy at Macquarie Group Ltd. in Singapore. “Aussie is going to continue to do well on the crosses.”
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