Aussie Surges as Receding Rate Cut Odds Halt Kiwi-Parity Push
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Australia’s dollar gained against all of its major peers after the country’s inflation was stronger than forecast, easing pressure on the central bank to cut interest rates.
The Aussie moved away from parity with the kiwi dollar after the consumer-price data reduced the odds of a policy change next month by the Reserve Bank of Australia. The yen halted a two-day drop versus the U.S. dollar after Japan reported a trade surplus, the first in three years, that was larger than forecast.