Key Points
SINGAPORE (Reuters) -The U.S. dollar wobbled near a three-month peak as expectations the Federal Reserve is unlikely to cut rates aggressively this year take hold, while the Australian dollar rose after the central bank said it could not rule out another rate hike...
The Reserve Bank of Australia (RBA) on Tuesday left rates unchanged at a 12-year high of 4.35%, as expected, after its February meeting, but cautioned that a further increase in interest rates might be needed to tame inflation...
Investors have steadily moved to push back bets for the first rate cut from the RBA to August, rather than June, with economists polled by Reuters also expecting the central bank to stay steady on rates well into the second half of this year...
Traders have been scaling back rate cuts bets since the beginning of the year and are currently pricing in only a 16% chance of a cut in March, the CME FedWatch tool showed, compared with a 69% chance at the start of the year...
The Japanese yen was stronger on the day at 148.44 per dollar, but not far off a two-month low of 148.90 it touched on Monday.. Japans real wages fell for a 21st straight month though at a slower pace, while household spending dropped for a 10th consecutive month, showing inflation outpaced wage recovery and continued to weigh on consumer spending...
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