SYDNEY: The Australian dollar jumped on Wednesday while bonds tumbled by the most in 10 months as a hot reading on local inflation hurt any lingering hopes of a rate cut this year.
The Aussie climbed 0.5% to $0.6520, having gained 0.6% overnight to as high as $0.6490. It is on a three-day winning streak, but the 200-day moving average of $0.6530 is proving to be good resistance for now.
The kiwi dollar edged up 0.2% in its wake to $0.5944, having risen 0.2% overnight. Support lies at its recent low of $0.5853 and resistance is around $0.5950.
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