Sunday, 7th June 2020

Aussie and Kiwi record highs against euro

Published:  3 Aug at 2 PM
The New Zealand and Australian dollars jumped to record highs versus the euro as the single currency fell following disappointing news from the European Central Bank over the debt crisis in the region.

The kiwi rose against a basket of currencies after prices of whole-milk powder went up, while the Australian dollar climbed against many of its rivals after data revealed that retail sales and trade had improved, boosting expectations that the country’s central bank will hold interest rates at their current rate. Stocks and commodities dropped on the back of the ECB meeting.

The aussie leapt to a record high of A$1.1606 against the euro in New York trading on Thursday, remained largely unchanged against the US dollar at $1.0465 and fell by 0.2 per cent to 81.88 versus the Japanese yen.

The kiwi also impressed, rising to NZ$1.4995 against the euro. Against its US counterpart it climbed by 0.3 per cent to 81.02, while it remained largely unchanged against the yen at 63.39.

The market will now turn its focus to the US, where the Labor Department is set to announce that the country’s payrolls added 100,000 jobs in July, on the back of an 80,000 rise in June.