Market updates on June 25
Welcome to Tuesday!
Aussie and Kiwi fluctuate close to multi-year maximums
On Thursday, the Australian and New Zealand dollars were fluctuating near multi-month maximums after the publication of firm Australian retail sales data and as the US currency was pressured by news that China might stop its American bond purchases.
The currency pair AUD/USD rallied 0.33% being worth 0.7869, having hit a three-month maximum of 0.7886 reached overnight.
The Australian Bureau of Statistics informed that in November retail sales soared by 1.2%, surpassing hopes for a jump of 0.4% and after a 0.5% ascend in October.
The currency pair NZD/USD was intact at 0.7198, which is off last session's four-month maximum of 0.7229.
The US currency weakened broadly reacting to reports that China could slow or even stop its American treasury purchases, with the US currency on track to report its biggest single-day sag versus the Japanese yen for seven weeks.
Assessing the greenback’s value versus a trade-weighted basket of six main currencies, the US dollar index stood still 92.17.
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Will the RBNZ push the kiwi higher?
The Reserve bank of New Zealand will publish its rate statement and make the interest rate’s announcement on June 26, at 5:00 MT time.
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