The Australian dollar moved higher on Monday, rebounding from nine-month lows as China announced a series of small stimulus measures to boost it ailing economy.
The local currency rose to US64.27¢ on Monday after it last week finished flat, halting five straight weeks of losses. It touched a nine-month low of US63.63¢ mid-August, dragged lower by China’s deteriorating economic outlook and the interest rate differentials between the US and Australia.
