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FOREX - AUSTRALIAN DOLLAR FIRMER AT NOON - MAY 3, 2006.
SYDNEY, May 3 Asia Pulse - The Australian dollar lifted more than one US cent at noon today after the central bank lifted interest rates for the first time in 14 months.
At 1200 AEST the local currency was trading at $US0.7664/68, significantly higher than yesterday's close of 0.7558/63.
The Reserve Bank of Australia (RBA) today lifted the official cash rate by 25 basis points to 5.75 per cent.
The local unit traded at $US0.7608/13 just prior to the release of the interest rate decision at 0930 AEST today before surging to a high of 0.7671, its highest reading since September 22, 2005.
It had traded as low as $US0.7601 earlier in the morning session.
National Australia Bank head of research Peter Jolly said while the local currency had found support in the interest rate move, it was unlikely to gain much more ground from its current price.
"It clearly got a boost here from the RBA but we do think the air's going to be a bit thin at the ...
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