(Bloomberg) -- Australia's dollar dropped the most in seven weeks, in the greatest fluctuation of any currency today, as weaker-than-forecast inflation reduced the chances of an increase in interest rates.
The local dollar fell for a second day and government bonds rose as traders cut bets the Reserve Bank of Australia would raise the cost of borrowing at its meeting in May. The currency last week reached the strongest in 17 years, helped by speculation the central bank would further lift the key rate from a six-year high of 6.25 percent.
Read more at Bloomberg Currencies News
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