(Bloomberg) -- The Australian dollar fell and bonds gained after a government report showed wages rose less than expected in the first quarter, weakening the case for the Reserve Bank of Australia to lift interest rates this year.
The Australian dollar dropped against 13 of the 16 most- actively traded currencies as traders reduced bets the central bank will increase the cost of borrowing from a six-year high of 6.25 percent. The Reserve Bank had cited wages growth as a risk that may lead to higher rates in its May 4 quarterly statement.
Read more at Bloomberg Currencies News
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