The Australian dollar struggled on Tuesday and swap rates fell after minutes to the Australia central bank's last policy meeting suggested interest rates may not rise for a while yet. The Australian dollar fell as far as $0.8710 after minutes to the Reserve Bank of Australia's (RBA) May 4 policy meeting showed it thought its rate rise then left monetary policy "well placed for the present".
One-year swap rates dropped as far as a three-week low of 4.9 percent. Three-year swap rates fell to a two-month low of 5.3 percent. Anxiety over Europe's future kept the New Zealand dollar down around half a cent below Monday's late local levels at $0.6960/63, after falling to a two-month low of $0.6917 in offshore trade.
Comments
Comments are closed.