The Australian dollar tumbled to a six-week low on Wednesday as soft domestic in...
TOKYO - The Australian dollar tumbled to a six-week low on Wednesday as soft domestic inflation reinforced prospects of monetary easing, while the U.S. dollar hovered near a 22-month high against its peers on after strong U.S. housing data further eased concerns towards the world’s biggest economy.
“The weak CPI heightens the prospect of RBA cutting rates at its May 7 meeting,” said Ayako Sera, senior market economist at Sumitomo Mitsui Trust. Crude oil prices rallied to six-month peaks this week, while the S&P 500 and Nasdaq reached record high closings overnight. The euro , which has the largest weighting within the dollar index, was down 0.15 percent at $1.1212 after shedding 0.25 percent the previous day.
U.S. first quarter GDP data on Friday could strengthen the case that while the current period of global expansion is in its late stages, the United States is on a firmer footing compared with other leading economies.
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Aussie sinks on soft inflation, dollar near 22-month high on strong U.S. dataThe Australian dollar tumbled to a six-week low on Wednesday as soft domestic in...
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