Today, Wednesday, November 29, the dollar fell broadly, recording its lowest level in more than three months against its major counterparts, while the New Zealand dollar rose after the central bank indicated the possibility of raising interest rates further in the future.
In the latest trading, the New Zealand dollar rose 0.78 percent to $0.6184, after rising more than 1 percent earlier in the session to the highest level in four months at $0.6207.
This came after the Reserve Bank of New Zealand warned today that further policy tightening may be needed if price pressures persist.
The Australian dollar fell 0.11 percent to $0.6642, trimming some of its gains after rising to a four-month high of $0.66765 earlier in the session.
Data released on Wednesday showed that inflation in Australia fell more than expected in October as commodity prices fell, while core inflation also declined.
Currency market
In the broader currency market, the US dollar fell to its lowest level in more than three months against a basket of currencies to 102.46, with increasing bets that the Federal Reserve (central bank) may begin lowering interest rates early next year.
The dollar fell more than 0.5 percent to 146.675 yen, the lowest level in more than two months. It was recorded in the latest transactions at 147.06 yen.
The euro rose again to above $1.10, recording the highest level in more than three months at $1.1017. It was last traded at $1.0998.
The pound sterling also rose to its highest level in three months at $1.2733 and was traded in the latest transactions at $1.27155, and the dollar index stabilized at the latest reading at 102.63.
2023-11-29 14:02:55
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