Australian dollar stumbles as AI trade sputters, kiwi steadies after rate rout
SYDNEY: The Australian dollar stumbled on Friday as hefty cash burn by tech giants sparked a rout in equities and dented risk assets, while the New Zealand dollar steadied after being battered by a surprise decision of the central bank to keep rates unchanged...
SYDNEY: The Australian dollar stumbled on Friday as hefty cash burn by tech giants sparked a rout in equities and dented risk assets, while the New Zealand dollar steadied after being battered by a surprise decision of the central bank to keep rates unchanged. The Aussie held at $0.7025, after falling 0.4% overnight and fading away from a five-week top of $0.7068. Resistance is now around the 200-day moving average...