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The Australian and New Zealand dollars hit four-month highs on December 4, with the Aussie touching $0.6690 and the kiwi reaching $0.6222. Gains were driven by bets on early and aggressive Fed rate cuts, with futures pricing about 125 basis points of cuts for 2024.
Expectations of a weaker US dollar support dollar-priced commodities and can lift Australian and New Zealand export-linked sentiment, though the move is currency-driven rather than supply-driven.
brecorder.comReutersDec 4, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
