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Australia and NZ dollars are on the ropes; bonds show some grit
SYDNEY: The Australian and New Zealand dollars were nursing painful weekly losses on Friday as surging US yields buoyed the greenback, while domestic bonds showed some resilience in the face of a vicious global selloff. The losses came despite markets narrowing the odds on further rate rises, with the Reserve Bank of Australia now considered all but certain to hike by 25 basis points to 4.60% at its meeting on September 29. A move to 4.85% is fully priced by February. “We expect greater resolve from the RBA to get inflation back to target,” said Paul Bloxham, head of Australian economics at HS...
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