As widely anticipated by many analysts and investors, Australia’s Reserve Bank raised a key interest rate by 25 bp to 3.25% today.  Thus the RBA becomes the first central bank within the G20 to acknowledge the easing of the global fiscal crisis.  As a result, the Australian Dollar rallied to $0.8876 versus the U.S. Dollar, a 14-month high.  Also profiting from the RBA’s decision, the New Zealand Dollar rose to $0.7357, also a 14-month peak.  An FX distribution manager in Tokyo suggested that while there may be some profit-taking in the next few days, over the longer term, the Australian Dollar will continue to gain.