Australian dollar builds on strong GDP
THE Australian dollar continues to strengthen after official figures show the country's economic growth is stronger than expected.
THE Australian dollar continues to strengthen after official figures show the country's economic growth is stronger than expected.
At 0630 AEDT on Thursday, the local unit was trading at 89.89 US cents, up from 89.59 cents on Wednesday.
The currency peaked at 89.97 US cents, its highest level since February 26, during Wednesday's local session after Australian Bureau of Statistics' data showed gross domestic product (GDP) in Australia expanded by 0.8 per cent in the last three months of 2013, for an annual rate of 2.8 per cent.
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