Australian Dollar Near Two-Month High as Rate-Cut Bets Decline
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The Australian dollar traded 0.1 percent from its highest in two months as traders pared bets on further interest rates cuts by the Reserve Bank and Governor Glenn Stevens didn’t address monetary policy in comments today.
The so-called Aussie climbed against 15 of 16 major peers this month as swaps indicated a 14 percent probability that the nation’s 3 percent benchmark will be lowered when policy makers meet April 2, Bloomberg data show. New Zealand’s kiwi dollar was 0.3 percent from a one-month high as the nation reported an unexpected trade surplus for February.