From Saxobank
The Australian dollar traded close to its highest in nine weeks after a surge in consumer confidence raised the possibility of an increase in interest rates.Consumer sentiment rising to a 10-year high and a report yesterday showing business confidence rebounded in June, have increased the likelihood the Reserve Bank of Australia will lift rates for the first time this year, boosting the appeal of local assets. Australia's dollar bought 72.53 U.S. cents at 5:00 p.m. in Sydney, from 72.45 cents late in Asia yesterday, when the currency rose as high as 72.85, the strongest since May 7.
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