SINGAPORE : The Australian dollar jumped to a more than five-month high on Wednesday after inflation data came in hotter than expected, while the kiwi slipped after New Zealand's fourth-quarter inflation rose less than what its central bank had forecast.The euro held near a nine-month peak against the dol
SINGAPORE : The Australian dollar jumped to a more than five-month high on Wednesday after inflation data came in hotter than expected, while the kiwi slipped after New Zealand's fourth-quarter inflation rose less than what its central bank had forecast.
Meanwhile, the kiwi slid nearly 0.6 per cent to $0.6469, after New Zealand's annual inflation of 7.2 per cent in the fourth quarter came in below its central bank's 7.5 per cent forecast. In other currencies, the euro steadied at $1.0888, near Monday's nine-month high of $1.0927, as a surprisingly resilient euro zone economy and hawkish rhetoric from European Central Bank policymakers supported the single currency.
In the United States, a gloomier outlook is unfolding as signs of an economic slowdown, a result of the Federal Reserve's aggressive rate hikes last year, are starting to show.
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