Aussie Battles Kiwi for Currency Bragging Rights
- Best forecaster says Aussie will outperform its Pacific rival
- Technical indicator signals kiwi is set to rise against Aussie
An Australian one hundred dollar banknote.
Photographer: Brendon Thorne/BloombergThis article is for subscribers only.
Australia’s dollar won the wooden spoon among Group-of-10 currencies last year, beating its New Zealand cousin in a race to the bottom. This year the contest is a race to the top.
Both commodity currencies are rallying in 2019 after the Federal Reserve turned dovish and as China introduces a slew of measures to bolster flagging growth. The Aussie and kiwi have both strengthened about 3 percent since the start of January, after sliding 9.7 percent and 5.3 percent respectively in 2018.