THE Australian dollar rose half a US cent after the central bank governor delivered a positive assessment of the Australian economy.
Reserve Bank of Australia (RBA) governor Glenn Stevens today told a parliamentary committee recent cuts to interest rates were beginning to have an effect on the economy.
The Australian dollar was trading at 102.40 US cents at 9.30am AEDT, just before the comments were made, and lifted to 102.91 US cents by 9.54am AEDT.
It finished yesterday's local session at 102.35 US cents.
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