Aus dollar up as RBA ponders rate rise

The Australian dollar rose sharply higher on speculation that the Reserve Bank of Australia would raise interest rates Wednesday for the first time in 15 months. However traders dismissed the talk, saying the odds against the RBA raising rates were about as long as the Wallabies winning the rugby World Cup.

Source: Daily Telegraph

Share traders yesterday brushed aside speculation that the Reserve Bank may raise interest rates today but foreign exchange traders were not so sure, lifting the Aust