By Garfield Reynolds
Sept. 10 (Bloomberg) -- Australia’s dollar is set to rise against Canada’s as the South Pacific nation’s economy improves, increasing its yield advantage, Commonwealth Bank of Australia said today in a note to clients.
“We expect the two-year bond spread to widen as Australia’s economy further improves ahead of Canada’s,” Joseph Capurso, a currency strategist in Sydney at Commonwealth Bank, wrote today in a note to clients.
Australia’s currency traded at 92.76 Canadian cents as of 12:27 p.m. in Sydney, up 1.8 percent over the past month.
To contact the reporter on this story: Garfield Reynolds in Sydney at greynolds1@bloomberg.net
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