The Australian dollar has also had a strong week as economic data released painted a picture improving conditions. The National Australia Bank Business survey helped highlight an improvement in both conditions and confidence amongst business leaders. Business conditions are now equal to the highest levels last seen back in 2008.
The release of Australian unemployment statistics showing the jobless rate dipping to 5.7% from 5.8% boosted the currency, as the market took this as a sign of less pressure on the Reserve Bank of Australia to cut interest rates further. The Australian Dollar also benefitted from the news that its largest trade partner China had seen its GDP (Gross domestic Product) for quarter one post growth of 6.7%. The Australian dollar climbed form a low 0.$0.7525 to peak at a high of $0.7730 over the week.