{
  "id": 3910286,
  "title": "Australian dollar extends winning streak to ninth week as rate outlook shifts",
  "url": "https://urgent.news/2026/08/28/australian-dollar-extends-winning-streak-to-ninth-week-as-rate",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-28T06:22:18.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40436843/australian-dollar-extends-winning-streak-to-ninth-week-as-rate-outlook-shifts"
  },
  "original_language": "en",
  "account": "The Australian dollar has been on a nine-week winning streak, reaching a three-month high as inflation data boosted the chances of an upcoming interest rate hike. The currency rose 0.2% to $0.7204, breaking the key resistance level at 72 cents and aiming for the May top of $0.7277, the highest since mid-2022. The Aussie outperformed major peers, gaining 0.7% against the kiwi, 0.8% against the Japanese yen, and 0.7% against the euro. Three-year government bond yields climbed 10 basis points to 4.679%, while 10-year bond yields rose 6 basis points to 5.098%, the highest since May. This shift in the Reserve Bank of Australia's interest rate outlook has raised the probability of the fourth rate hike this year to 52%, with some risk of another hike next year. Ray Attrill, head of FX strategy at National Australia Bank, noted the increased near-term upside risks for the AUD, though he still expects the currency to trade between $0.6850 and $0.7278 over the year. Medium-term fundamentals remain less supportive, as additional tightening may negatively impact 2027 growth, potentially leading to RBA rate cuts. The Australian yield curve and narrower 10-year ACGB–UST spreads suggest limited AUD upside. The focus now lies on the Federal Reserve's Jackson Hole Symposium, where Chair Kevin Warsh is set to speak, which could influence the near-term direction of the US dollar. Meanwhile, the kiwi dollar saw a 0.2% increase to $0.5965, expected to decline by 0.2% weekly, with resistance around the double top at $0.5990. The Reserve Bank of New Zealand is expected to raise the official cash rate by 25 basis points to 2.75% at its meeting next Wednesday, with a 96% chance it will hike again in October. The uncertainty lies in whether the central bank signals a third rate hike in October, with rates potentially reaching 3.0% by December and near 3.5% next year as the bank transitions from stimulus to a more neutral policy stance.",
  "summary": "SYDNEY: The Australian dollar scaled a new three-month peak on Friday, extending a winning streak to nine weeks as a hot inflation report sharply lifted the odds of an imminent rise in interest rates, leaving bonds nursing heavy losses. The Aussie rose 0.2% to $0.7204, breaking key resistance at 72 cents, with bulls now eyeing the May top of $0.7277, the highest since mid 2022. It is set for a…",
  "key_points": [],
  "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."
}