Australia’s dollar was less than a cent from parity with New Zealand’s currency before the larger nation reports inflation data that may sway the central bank’s decision on interest-rate policy.
The Aussie held a three-day decline versus the kiwi after minutes yesterday of the Reserve Bank of Australia’s April 7 meeting showed it saw an advantage in waiting for more economic figures before deciding on further rate cuts. The U.S. dollar was little changed against the yen ahead of Japanese trade data forecast to show the first surplus in almost three years.
The Australian dollar was little changed at NZ$1.0064 at 8:21 a.m. in Tokyo. It traded at 77.14 U.S. cents from 77.11 Tuesday, having slumped 1.2 percent in the previous three sessions.
Australia’s consumer price index climbed 1.3 percent in the first quarter from a year ago, according to the median estimate in a Bloomberg survey of economists, down from 1.7 percent during the previous period.
Japan’s trade balance reached a surplus of 44.6 billion yen ($373 million) for March, the first excess in almost three years, according to a separate Bloomberg survey.
Source : Bloomberg