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The Australian dollar accelerated to a fresh 16-month high yesterday of US56.40c as traders bet its next pit stop would not be until it hits US60c.
Earlier in New York, the Aussie peaked at US56.30c. It opened at US56.10c in Sydney.
However, the local currency got a second wind after long lunch rumours raced around the market that consumers had gone on a spending binge in April which would shorten the odds for Ian Macfarlane and his Reserve Bank board to raise interest...