The Australian dollar rose past 90 US cents for the first time in almost a month after the Federal Reserve chairman Ben Bernanke called for more action to stimulate the American economy.
Shares have continued to rally as the banks benefit from the US Federal Reserve's decision to dilute its stimulus measures, and Telstra hits a near nine-year high.
The Australian share market has enjoyed a welcome lift after the US Federal Reserve decided to start winding back its stimulus program for the US economy.
Australia's long-run prosperity depends on federal government support for productive industries and more flexible workplaces rather than cheaper loans, the central bank says.
The Reserve Bank of Australia is keeping an open mind on further interest rate cuts, but says monetary policy can't do all the heavy lifting in the economy.
The state's peak business group has hired a former chief of staff to premier Colin Barnett as its new chief executive. Deidre Willmott will succeed James Pearson as CCI chief executive.
The Australian dollar has fallen below 89 US cents for the first time in four months as expectations about an upcoming US Federal Reserve announcement continue to weigh on the currency.
The Australian share market has broken a six day losing streak as bargain hunters picked up the banking and mining stocks that had fallen in value the past week.
US stocks have closed lower after a surprisingly good retail sales report boosted speculation that the US Federal Reserve could soon scale back its stimulus program.
The Australian dollar is at a three-and-a-half month low following strong US retail data and after the Reserve Bank of Australia governor said he wanted the dollar around 85 US cents.
