Australia’s dollar rose against all its major counterparts after a report showed the nation’s underlying inflation accelerated. Singapore’s dollar tumbled after its central bank unexpectedly eased the slope of its currency band. The greenback rallied from its biggest loss against the euro since October before the Federal Reserve sets policy today. The dollar slid Tuesday after U.S. durable-goods orders unexpectedly decreased and corporate results fell short of analyst expectations.
“There was talk of a rate cut next week, so the solid CPI numbers have significantly reduced that possibility, supporting the Australian dollar,” said Koji Fukaya, chief executive officer and currency strategist at FPG Securities Co. in Tokyo.
The Aussie gained 0.9 percent to 80.06 U.S. cents at 10:08 a.m. in Tokyo. It touched 78.55 cents on Jan. 26, the least since July 2009. Singapore’s currency dropped 0.8 percent to S$1.3502 per U.S. dollar, headed for the biggest decline since February 2012.
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