SYDNEY : The Australian dollar reversed a recent rally on Thursday, as rising fears of a U.S. recession and soft local jobs data knocked the risk-sensitive currency, while the kiwi was little moved by the resignation of Prime Minister Jacinda Ardern.The Aussie eased 0.4 per cent to 0.6910 per cent, the so
SYDNEY : The Australian dollar reversed a recent rally on Thursday, as rising fears of a U.S. recession and soft local jobs data knocked the risk-sensitive currency, while the kiwi was little moved by the resignation of Prime Minister Jacinda Ardern.
U.S. data overnight showed retail sales fell by the most in a year in December and manufacturing output recorded its biggest drop in nearly two years, fuelling fears the world's largest economy is headed for a recession. However, a slew of policymakers sounded hawkish overnight, signalling they would push on with more interest rate hikes, with several supporting a top policy rate of at least 5 per cent.
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