Aussie and kiwi dollars struggle on China rate cuts while dollar drifts
The Australian and New Zealand dollars struggled near multi-week lows following China’s decision to cut several key interest rates. In contrast, the US dollar showed little change as it awaited new economic cues.
China took markets by surprise by reducing major short and long-term interest rates. This marked the first comprehensive rate cut, signalling China’s intent to bolster growth in its economy, the world’s second-largest.
Read more to find out how will AUDUSD and NZDUSD market trend.
Disclaimer:
US politics, as the election approaches, will likely become a greater source of market volatility. The evolving political landscape and candidate policies will be critical factors for market participants. Risk management is advised for traders.
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