Market bets on the Reserve Bank of Australia raising interest rates early next year, pushing the Australian dollar to its highest level in over a year.

Wisdom Finance App learned that traders are predicting that the Reserve Bank of Australia will quickly raise interest rates early next year, causing the Australian dollar to climb to its highest level in over a year. On Wednesday, the Australian dollar rose 0.2% to 1 Australian dollar to 67.13 US cents, reaching its highest level since October 2024. This has expanded its gain for the quarter to 1.5%, making it one of the best performing major developed market currencies.