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Aussie dollar hits four month high

Xinhua, February 24, 2017 Adjust font size:

The Australian dollars once again broke through the 77:00 U.S. cent mark on Friday to reach a four month high.

At the Asian market open 07:00 (AEDT), the local currency was trading at 77:15 U.S. cents, up from 76.97 U.S. cents on Thursday.

With many in the United States hoping for immediate tax reform, Treasury Secretary Steven Mnuchin said in a television interview that the government would "commit" to tax reform by August, which appears to be not soon enough for some.

Considering Thursday's underwhelming economic data from the Australian Bureau of Statistics which showed business investment had declined over the past three months, the boost in the local unit took many by surprise.

At 09:10 (AEDT), the Australian dollar was buying 77.14 U.S. cents. Endiit