Aussie trades up against its major peers on better retail results

© scanpix/reuters

Australian dollar appreciated against its 16 major trading counterparts before tomorrow's policy meeting of Reserve Bank, and on better-than-expected retail sales results.  Demand for the currency was fostered by investors bidding higher on assets before the U.S. elections. The Aussie surged 0.3% to $ 1.0367, and advanced 0.3% to 83.34 yen. The CBA forecasts that Reserve Bank will reduce borrowing costs by 0.025 percentage point to 3% tomorrow.