SINGAPORE : The dollar edged lower on Wednesday as traders assessed the odds of a rate hike by the Federal Reserve next week, while the Aussie scaled a fresh three-week high in the wake of a rate increase and a decidedly hawkish stance by its central bank .The Australian dollar peaked at $0.6690 in early
SINGAPORE : The dollar edged lower on Wednesday as traders assessed the odds of a rate hike by the Federal Reserve next week, while the Aussie scaled a fresh three-week high in the wake of a rate increase and a decidedly hawkish stance by its central bank .
"The cash rate is now 4.1 per cent, which we think is in a deeply restrictive territory, so that obviously means that the risk of a hard landing in the Australian economy has increased," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. Against the greenback, sterling rose 0.08 per cent to $1.2432, while the kiwi gained 0.08 per cent to $0.6084.
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