Australian Dollar Hits 19-Month Peak while Kiwi Reaches Yearly Highs

The Australian dollar climbing coming close to a level not touched since early 2023. Breaking these levels has opened the door for further movement. This momentum has been largely driven by hopes that China’s latest round of stimulus will provide a much-needed boost to demand, especially for Australian commodities. For the New Zealand dollar a rise overnight, has brought it within striking distance high. Australia’s inflation report showed that prices dropped, bringing annual inflation down. This marked a three-year low, falling within the Reserve Bank of Australia’s (RBA) target.