Archive · Business Recorder
Australian dollar stumbles as AI trade sputters, kiwi steadies after rate rout
SYDNEY: The Australian dollar stumbled on Friday as hefty cash burn by tech giants sparked a rout in equities and dented risk assets, while the New Zealand dollar steadied after being battered by a surprise decision of the central bank to keep rates unchanged. The Aussie held at $0.7025, after falling 0.4% overnight and fading away from a five-week top of $0.7068. Resistance is now around the 200-day moving average of $0.7058, with support at 70 cents. It also lost ground against its peers, falling 0.5% overnight on the kiwi to retreat from a 13-year peak of NZ$1.2601. It also dropped 0.5% on ...
ZAZTEK archives the headline, summary and publication date so the story stays findable. The full article remains the publisher's. Read it at Business Recorder →