Stevens’s crisis downgrade sends Aussie soaring
The Australian dollar hit its highest level against its US counterpart this year after Glenn Stevens, the governor of the Reserve Bank of Australia, said the economic impact of the crisis would be much less severe than previously thought.
"It appears at this stage, however, that the downturn we are having may turn out not to be one of the more serious ones of the post-War era," said Glenn Stevens, the governor of the Reserve Bank of Australia, told an audience in Sydney on Tuesday.
The
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