SYDNEY: The Australian dollar edged higher on Wednesday as data showed the domestic economy rebounded by more than expected in the second quarter, adding to upward pressure on bond yields.
The 0.6% rise in gross domestic product topped forecasts of 0.5%, and took annual growth to its fastest in almost two years at 1.8%. Most of the gain came from household consumption as lower borrowing costs and past tax cuts fattened incomes.
