Aussie, N.Z. Dollars Show Weekly Drop Before China Price Data
This article is for subscribers only.
The Australian and New Zealand dollars posted weekly declines on concern Chinese inflation data tomorrow will back the case for China to tighten monetary policy, damping demand for higher-yielding currencies.
New Zealand’s dollar was this week’s worst performer against the greenback among its 16 most-traded peers as prospects for slower interest-rate increases narrowed the nation’s yield advantage over U.S. rates. The U.S. currency advanced this week against most major counterparts after benchmark 10-year Treasury yields reached the highest since June.