Aussie dollar moves further into record territory

SYDNEY: The Australian dollar moved further into record territory against the greenback on Thursday, soaring to a new post float high. The commodities backed currency touched $1.0347, its highest since being floated in 1983.

It slowly appreciated after official figures showed retail spending in Australia increased 0.5 percent in February, analysts said.

Australian Bureau of Statistics data also showed building approvals fell 7.4 percent in the same month. Analysts have said the Aussie should remain above parity for the foreseeable future and possibly reach $1.10 by year end.