Dollar rate australia

SYDNEY, June 13 (Reuters) - The Australian and New Zealand dollars edged cautiously higher on Tuesday, after the U.S. dollar and short-term Treasury yields dipped ahead of inflation data that could make or break the case for a Federal Reserve rate pause this week. The Aussie rose 0.2% to $0.6762, having hit a fresh one-month top of $0.6774 on Friday. That remained the near-term resistance, while major support lies at the 200-day moving average of $0.6689. The kiwi dollar climbed 0.1% higher to $0.6130, after touching a three-week high of $0.6153 on Friday. Resistance is about $0.6150, while it has support at the 21-day moving average of $0.6125. The two stole a march higher after the U.S. dollar slipped a little in Asia on expectations of a pause in the Fed’s interest rate hike cycle on Wednesday. The U.S. inflation report due later on Tuesday is expected to show a welcome cooling in consumer inflation in May, with headline inflation easing to an annual rate of 4.1% from April’s 4.9%, a result that would add to the case for a Fed pause. Markets are currently pricing in an 80% chance that the Fed will keep rates on hold at this week’s meeting. Earlier in the day, soft survey readings on Australian businesses and consumers and China’s move to cut a key short-term rate had weighed on the Aussie. “The Aussie suffered a few wobbles in its ‘witching hour’ when Australian data releases overlapped with early China trade,” said Sean Callow, a senior currency strategist at Westpac. ...

The US dollar is soaring, which means most currencies, including ours, are falling against it. Mr O'Brien's now paying a lot more for a transaction that cost him $100,000 in April. "In the last three months, we've seen changes of around about $12,000 to $13,000 difference between transactions," Mr O'Brien told ABC's The Business. His company, AirPhysio, makes a device that helps people with conditions like asthma, bronchiectasis and cystic fibrosis, to clear mucus in their lungs and improve their breathing. In the midst of a pandemic caused by the respiratory disease COVID-19, business has been booming. "We had massive growth over the last two years, of around 2,300 per cent in 12 months, and about 5,000 per cent over the last two years," he said. The vast majority of the parts in the handheld device are made in Australia, except small, medical-grade ball bearings that Mr O'Brien imports from China. That trade is done in US dollars, so it's now costing him a lot more to buy them. "You're talking about $20,000 to $23,000 difference in a payment that might happen each week or every month." "It's been a case of all systems go for the US dollar," said Westpac's head of a foreign exchange strategy, Richard Franulovich. "The US dollar has been strong across the board this year and the Aussie dollar has not been immune, it's down about 11 per cent." The Freight and Trade Alliance warns the high US dollar could have ramifications for local consumers too. "When the Aussie dollar fa...

The Reserve Bank of Australia said inflation remained too high and removed language from its statement saying that inflation expectations were well-anchored. See: Australia’s short-lived pause comes ahead of a Federal Reserve policy meeting next week that’s expected to see U.S. monetary policy makers take a rest after a breakneck series of rate increases that have lifted the fed-funds rate from near zero to 5% to 5.25% since March 2022. Fed officials have indicated that a pause is justified, while emphasizing that skipping a rate increase in June doesn’t mean they can’t deliver a hike at a later date. MarketWatch Interview: Fed-funds futures traders have priced in a probability of around 23% for a quarter percentage point rate hike in June, down from nearly 67% a week ago, Fed policy makers meet next week. The spotlight on Wednesday will move to the Bank of Canada, which left rates unchanged at its two policy meetings A 25 basis point rate hike Wednesday by the Bank of Canada — seen as a 43% probability in the money market — “would probably cause ripples across core bond markets around the world and could keep the dollar bid on the view that the Fed might be closer to hiking than first thought,” said Chris Turner, global head of markets at ING, in a note. “Let’s see.” On Tuesday the U.S. dollar bounced back from earlier weakness, with the ICE U.S. Dollar Index -0.79% , a measure of the currency against a basket of six major rivals up 0.2%. The index hit a roughly 2-decade ...