Reported about 1 year ago
On July 8, 2024, the hawkish policies of the Reserve Bank of Australia and the Reserve Bank of New Zealand, which have temporarily paused rate cuts, have provided strong support for their currencies, with analysts optimistic about the performance of the Australian and New Zealand Dollars, expected to outperform other major currencies globally. Despite increased global market volatility, the risk-sensitive Aussie and Kiwi Dollars were the top performers among the Group of Ten (G10) currencies last quarter, each rising by about 2% against the US Dollar, while other currencies declined due to the strong US Dollar. The Australian and New Zealand central banks have not yet cut rates and are even considering raising them, indicating that the AUD and NZD are expected to continue to strengthen, helping to offset the impact of a strong US Dollar.
Source: YAHOO