The Australian dollar rose to two-week highs on the Swiss franc on Wednesday as talk swirled Swiss authorities could try more drastic measure to curb the safe-haven franc, a move that should benefit riskier commodity currencies. The Aussie was also helped by news late in the local session that SAB Miller was bidding around A$9.5 billion for Australian brewer Foster's.
The local dollar popped up half a franc to 0.8383 Swiss francs on speculation the Swiss National Bank (SNB) could set a floor for the euro-Swiss franc exchange rate in the near future. It also firmed to $1.0491, from $1.0472 late in New York and an early low of $1.0433. Traders said there was buying interest from Asian central banks at around $1.0430/50. Against the New Zealand dollar, the Aussie edged up to NZ$1.2550, pulling up from Tuesday's low around NZ$1.2488. The New Zealand dollar last stood at $0.8353, compared to New York's $0.8362.
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