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"SYDNEY — The Australian dollar powered up on Wednesday (June 1) after economic growth easily beat expectations, prompting investors to further scale back expectations for an interest rate cut soon. The Australian dollar climbed as far US$0.7299 (S$1.01) at one point, pulling away from a 2-1/2 month low of US$0.7145 set last week. The currency last traded at US$0.7275, up 0.6 per cent. Against the Singapore dollar, the Aussie was last at S$1.0034, up 0.7 per cent, after rising as high as S$1.0054.", www.todayonline.com
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