Futures Market News
Aussie, kiwi slip against rivals after losses to Asian stocks
Jun 08, 2012 03:51 PM
South Pacific currencies lost value against their major counterparts on Friday, pulled down by Asian stocks' poor performance, according to Bloomberg.
The Australian dollar dipped again on Friday against the U.S. dollar after economic data indicated the nation's trade deficit was thinner than projected to be. Australian Reserve Bank Governor Glenn Stevens warned that monetary policy administrations stand the chance of spurring activity with asset bubbles. Senior currency strategist Sue Trinh with Royal Bank of Canada in Hong Kong told the news source that the Aussie is poised to climb in value.
"Market sentiment hasn't turned to risk-on yet, which is weighing on the Australian and New Zealand currencies," currency strategist Kengo Suzuki with Mizuho Securities of Japan told the news source.
The New Zealand dollar fell 0.6 percent against the U.S. dollar and 1.1 percent against the Japanese yen.
MarketWatch reports the Australian dollar notched parity on Thursday against the world's reserve currency in response to China slashing its interest rates for the first time in about four years.
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