Australia Open Minded On Anzac Dollar

CURRENCY NEWS

SYDNEY—Australia’s foreign minister last week said that the government remains open minded on the prospect of a single currency for Australia and New Zealand. Forex market participants are unconvinced.

“I think a single currency would not work, in the same way as the euro has failed,” says one FX trader at an Australian bank in London. “It is hard to manage monetary policy when more than one economy is involved.”

Analysts say that the ultimate success or failure of the euro may lead to the idea g