SINGAPORE : The Australian and New Zealand dollars gained ground on Monday ahead of expected rate hikes from their respective central banks later in the week, while the dollar slipped against a basket of currencies.The Aussie was up 0.19 per cent to $0.64230, away from a 2-1/2-year low of $0.63635 hit las
SINGAPORE : The Australian and New Zealand dollars gained ground on Monday ahead of expected rate hikes from their respective central banks later in the week, while the dollar slipped against a basket of currencies.
"The RBA could be quite influential if they give a more nuanced approach and signal that they may come down to 25 basis points in the November meeting. That might be taken, globally, quite well," said Chris Weston, head of research at Pepperstone.The pound rebounded strongly at the end of last week when the Bank of England said it would buy as much government debt as needed to restore order after new Prime Minister Liz Truss's tax cutting plans triggered financial chaos.
Data on Friday showed that euro zone inflation zoomed past forecasts to hit a new record high of 10.0 per cent in September, beating expectations for a reading of 9.7 per cent.
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