AUD increase interest rate

Buy the rumor sell the news? The Australian dollar is sharply higher again yesterday against the USD. Traders jump all over the expectation (rumor) that Australia's central bank is going to hike interest rates by 25 basis points when they meet today. That will put the AUD interest rate at 3.25%, towering over the rest of the major currency. This clearly show that Australia's economy seems to be growing faster than its major competitors too