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Australian dollar steadies ahead of RBA, kiwi braces for election risk
SYDNEY: The Australian dollar marked time on Monday ahead of a policy decision where rates are set to hit an 18-year high, while the New Zealand dollar braced for an election week that could see a change in government and, possibly, the central bank’s mandate. The Aussie held at $0.7030, after ending Friday little changed despite a sharp selloff in global equities. It ended October 1.3% higher, helped by hawish central bank commentary that lifted the chance of a quarter-point rate hike on Tuesday to nearly 90%. That would take the cash rate to 4.85%, the highest since 2008. Resistance is now a...
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