{
  "id": 1432965,
  "title": "Australia, New Zealand dollars hit 10-week highs on pared Fed rate risk",
  "url": "https://urgent.news/2026/08/17/australia-new-zealand-dollars-hit-10-week-highs-on-pared-fed-rate-risk",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-17T06:05:14.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40435164/australia-new-zealand-dollars-hit-10-week-highs-on-pared-fed-rate-risk"
  },
  "original_language": "en",
  "account": "The Australian and New Zealand dollars hit 10-week highs on Monday as the Federal Reserve's potential interest rate hikes, aimed at taming inflation, became less likely. The Australian dollar rose 0.2% to $0.7098, extending a seven-week winning streak and breaking major resistance at $0.7089. Bulls are now targeting the May top of 72 cents. The New Zealand dollar gained 0.3% to $0.5905, after jumping 0.7% on Friday, with major resistance now at $0.5908 and support around $0.5850. The shift in sentiment followed cooler-than-expected inflation readings and an unexpected decline in retail sales, leading investors to give up bets for an imminent rate hike from the Federal Reserve. Sean Callow, a senior analyst at ITC Markets, noted that the Aussie's upward movement aligns with its typical role as a high-beta play against the US dollar, supported by recent record highs in US equities and the Reserve Bank of Australia's hawkish stance. If a strong jobs report is released on Thursday, the Aussie could reach 0.72. The focus is now on the Australian local jobs report on Thursday, with forecasts centering on a gain of 15,000 jobs in July and a steady unemployment rate of 4.4%. The Reserve Bank of Australia revised its estimate of the unemployment rate to 4.8%. Markets are divided on the likelihood of another interest rate hike from the Reserve Bank of Australia by the end of the year, as policymakers have become more hawkish following two rate-hold decisions this year. Quarterly wages data will be released on Wednesday, and RBA Deputy Governor Andrew Hauser will speak. Meanwhile, the Reserve Bank of New Zealand meets in early September, with an 86% chance of a quarter-point rate rise to 3.0% by year-end priced in.",
  "summary": "SYDNEY: The Australian and New Zealand dollars hit 10-week highs on Monday as fading bets that the Federal Reserve will need to raise interest rates to tame inflation weighed on the US dollar. The Aussie rose 0.2% to $0.7098, extending a seven-week winning streak. The rally helped it break major resistance at $0.7089, with bulls now targeting the May top of 72 cents. The kiwi gained 0.3% to…",
  "key_points": [
    "Australian and New Zealand dollars reach 10-week highs",
    "Fed rate hikes less likely due to cooler inflation readings",
    "Focus on Australian jobs report on Thursday"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}