Australia, NZ dollars run out of puff, ponder rate outlooks
Tuesday, 21 May 2024
Australian and New Zealand dollars weakened as markets assessed steady interest rates. Copper prices surged to all-time highs, supporting major commodities. RBA released minutes hinting at possible rate hikes, awaiting inflation and consumer data. RBNZ expected to hold the official cash rate, with markets predicting a potential cut in August.
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