Aussie dollar rises on growth reports

THE Australian dollar climbed after a government report showed the economy expanded in the second quarter at a faster pace than economists had forecast.

The “Aussie” snapped a three-day decline against the greenback as Reserve Bank of Australia governor Glenn Stevens signalled a willingness to keep the developed world’s highest interest rates on hold.

The New Zealand dollar headed for its biggest advance in a week versus the US currency, as Asian stocks rose, supporting demand for higher-yielding assets.