Aussie, Kiwi Go From Worst to Best as Traders Adjust Easing View
- Traders are pricing in little chance of RBA cut for some time
- N.Z. currency rises on year-end demand from dairy companies
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The Australian and New Zealand dollars have gone from the worst performers among their major peers to the best as traders reassess their outlooks for the two nations’ monetary policies.
The Aussie and kiwi are the biggest gainers among their Group-of-10 counterparts this quarter, rebounding from losses during the first nine months of the year. New Zealand central bank Governor Graeme Wheeler delivered the easing that economists had predicted this month, while signaling interest rates will now stay on hold. Reserve Bank of Australia Governor Glenn Stevens refrained from cutting rates for a seventh month.