Dollar gains amid reports of EU fund boost
THE dollar rose after reports that France and Germany had agreed to boost Europe's rescue fund.
THE dollar rose after reports that France and Germany had agreed to boost Europe's rescue fund.
Optimism was sparked on global markets, pushing US equities higher, after the Guardian newspaper said that Germany and France had reached an agreement to increase the European rescue fund to two trillion euros ($2.72 trillion) as part of a "comprehensive plan" to resolve the sovereign debt crisis.
At 6.30am AEDT today, the dollar was trading at 102.85 US cents, up from 102.04 cents yesterday.
At 9.25am AEDT today, Reserve Bank of Australia assistant governor Guy Debelle is due to address the Annual Finance and Treasury Association Congress in Sydney.
Westpac and the Melbourne Institute are due to release their Leading Indexes of Economic Activity for October, later in the morning.
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