SYDNEY, Oct. 13 (Xinhua) -- The Australian dollar has continued nine-session winning streak, reaching an eight-week high against a weaker greenback overnight as fears of a U.S. rate hike diminish.
At 1000 local time (AEDT) on Tuesday, the local unit was trading at 73.57 U.S. cents, up from 73.35 U.S. cents on Monday.
In early morning trade, it peaked at 73.83 US cents, its highest level since Aug. 18.
Analysts believe the U.S. Federal Reserve will not lift rates until 2016, a view weighing heavily on the greenback against all the major currencies.
The Australian dollar is also being supported by higher copper commodity prices and a rebound on China's markets, BK Asset Management managing director Kathy Lien said on Tuesday.
