After dealing with a rough road for a long time, the Australian dollar recently climbed a few ladders soon after the central bank announced a rise in the interest rates. It is to be mentioned here that the interest rates have been raised by the central bank for the first time in the last six months which is a major factor for the rise in demand expected for the nation's assets.

For the record, the currency of the Australian region was bolstered on the back of the speculation that the Fed Reserve and the Bank of Japan will be taking further steps in the direction of monetary-easing this week which will help Australia expand its yield advantage.

It may be noted here that the Federal Reserve will be initiating a two day meeting with the Bank of Japan on the 4th and 5th November. Reserve Bank of Australia Governor Glenn Stevens said that the risk of the rising inflation is still looming on the head of the economy.

Moreover, Sue Trinh, a senior currency strategist in Hong Kong at Royal Bank of Canada said that the RBA is still moving ahead with a tightening bias.