“The Australian and New Zealand dollars fell against most of their major peers after slowing consumer-price inflation in Australia increased bets the nation’s central bank will lower interest rates.
The Aussie dollar touched a two-week low against its U.S. counterpart even as global stocks and commodities rose following better-than-expected U.S. economic data and successful bond auctions in Europe. Both South Pacific currencies weakened for a second day versus the greenback.
“Commodity currencies have been a bit softer because you had a weak Australian CPI number overnight,” said Geoff Kendrick, head of European currency strategy at Nomura International Plc, by phone from London. “The big picture driver is likely to be growth this year.”
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