Aussie dollar rises to 11-week high

LONDON: The Australian dollar rose to an 11-week high versus the US dollar on Monday as traders targeted an option barrier, with investors favouring the high-yielding currency and the sound fundamentals of the Australian economy.

The Aussie rose to $1.0502, its highest since Nov. 1, to trade with gains of around 0.1 percent for the day. Traders said demand from the Middle-East had pushed it through an option barrier at $1.0500.