Australia’s dollar fell for a fourth day after reports showed consumer sentiment deteriorated and home loans stagnated.
Demand for the Aussie and New Zealand’s kiwi dollar was limited on concern China’s economy is slowing and that more bond defaults will follow Shanghai Chaori Solar Energy Science & Technology Co. Australia’s currency touched a six-week low versus its New Zealand counterpart as economists are certain the smaller nation’s central bank will raise interest rates tomorrow.
“The consumer sentiment data added to concerns around what’s happening” in China, said Derek Mumford, director at Rochford Capital, a currency risk-management company in Sydney. “Any spikes in the Aussie will be heavily sold into.”
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