Aussie Near Five-Year Low Versus Kiwi Before RBA Policy Meet

 Berita dari PT. Jalatama Australia’s dollar was 0.2 percent from a five-year low versus New Zealand’s currency before the larger nation’s Reserve Bank meets amid repeated calls from its policy makers for a lower exchange rate.

The Aussie was little changed for a third day versus the greenback as a technical indicator signaled losses in Australia’s currency were too rapid. New Zealand’s kiwi dollar was near its strongest since May versus the yen amid speculation Japanese investors are seeking higher-yielding assets.

“The Aussie is a less risky sale against the kiwi than it is against the U.S. dollar at the moment,” said Thomas Averill, a managing director in Sydney at Rochford Capital, a currency and rates risk-management company. “One of the reasons why we’re seeing as much jawboning from the RBA as we are is because they’re not going to do anything in terms of direct policy action” on the currency, Averill said, referring to the Reserve Bank of Australia.

The Australian dollar traded at NZ$1.1128 at 11:25 a.m. in Sydney after yesterday touching NZ$1.1105, the weakest since October 2008. It bought 91.14 U.S. cents from 91.06. It traded at 93.76 yen from 93.74. New Zealand’s currency was at 81.91 cents from 81.86. The kiwi was little changed at 84.26 yen after touching 84.48 yesterday, the highest since May 16.

The difference between the two-year swap rate in Australia and New Zealand was 77 basis points today and reached a four-month high of 82 basis points on Nov. 28. Benchmark rates in both nations are at 2.5 percent.

(Source: Bloomberg)