The news on the Australian economy has been far from upbeat. A benign consumer price index report will make the likelihood of another RBA rate hike disappear completely and this will potentially weigh on the Australian dollar.
More Quotes from John Kyriakopoulos:
It plays to the risks of the Reserve Bank of New Zealand cutting rates earlier than its current track suggests.John Kyriakopoulos
Perceptions that Japanese interest rates would not be rising much appeared to reverse earlier concerns about an end to carry trades, which supported the Australian dollar.
John Kyriakopoulos
Heightened inflation concerns could curb expectations of an easing from the Reserve Bank in the near term.
John Kyriakopoulos
Heightened concerns over inflation risks in the U.S. and a consequent monetary policy-induced slowdown in economic growth are keeping U.S. dollar bulls in check.
John Kyriakopoulos
The Fed is still going to 5 percent and therefore Australia's yield advantage will continue to narrow.
John Kyriakopoulos
It's more of the same, with the perception that carry trades are being unwound, and that Japanese bond yields rose further today probably added to that trend.
John Kyriakopoulos
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