AUD steadies near multi-year highs vs NZD, EUR as RBA rate hike expected
The Australian dollar steadied on Monday after two weeks of losses, hovering near multi-year highs on the New Zealand dollar and euro as markets priced in a fourth rate hike from the Reserve Bank of Australia this year to 4.6% next week. The Aussie was little changed at $0.7128, but remained near a 13-year top on the kiwi at NZ$1.2441 and a 22-month high on the euro at A$1.6093. ANZ bank is tipping another move to 4.85% in November.
SYDNEY, Sept 21 (Reuters) — The Australian dollar steadied on Monday after two weeks of losses as a hawkish turn in the US rate outlook cooled its recent rally, though it remained near multi-year highs on the kiwi and euro with another rate hike at home all but locked in. 6% lower. 7075. 6% next week.
The Commonwealth Bank of Australia and ANZ on Monday changed their rate call to pencil in a hike next Tuesday, joining the other two Big Four banks. 85% in November. "The RBA has also had a range of opportunities over the past week, through its public communications, to pull back expectations of a near-term rate hike... To date, it has chosen not to," said Adam Boyton, head of Australian economics at ANZ.
" Governor Michele Bullock, who warned inflation risks are materialising last week, will be giving remarks on Tuesday, followed by a speech by RBA board member Iain Ross in the evening. Assistant Governor Sarah Hunter will do a podcast interview early on Tuesday morning. 5% last week to mark the fourth consecutive week of declines. 5705.
75% this month but projected a slower and more limited tightening cycle than markets had wagered on. Markets imply a 60% chance the central bank will hike at its next meeting on October 28. com)