US currency stabilized after a recent decline as risk appetite improved and Wall Street’s main indexes advanced. Outlook for the US dollar, however, remains murky due to global trade tensions.
Closer to home, the Reserve Bank of Australia kept its official interest rates on hold at 1.5 percent. Their GDP growth is now expected to be faster than 2.4 percent, rather than the 3 percent noted earlier. Volatility caused by US trade policy and tighter credit globally are mounting concerns for the Reserve Bank of Australia.
New Zealand Dollar rebounded with better risk sentiment overnight and continues to appear relatively resilient to attempts to move lower for now.
Coming out tomorrow is Australia’s February Trade Balance, so let’s see what impact it will have on our Fiji Dollar.