Dollar Holds Near 10-Month Low After Friday's Disappointing Data
- Kiwi sells off, dragging on Aussie following RBNZ’s comments
- U.S. data will be closely watched to gauge Fed: Westpac
State Street's Graf Says Markets Really Doubt the Fed
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The U.S. dollar held near a 10-month low following Friday’s dismal inflation and retail sales data. New Zealand’s currency declined after the central bank deputy governor said a weaker kiwi would help growth.
The Bloomberg Dollar Spot Index clawed 0.1 percent higher after its worst week since May as investors await further U.S. economic data
to gauge the pace of Federal Reserve rate rises. Traders attributed the kiwi selloff to comments from the Reserve Bank of New Zealand Deputy Governor Geoff Bascand that “from a growth point of view, a lower exchange rate would help rebalance growth toward the tradables sector.”