Dollar bounces, euro heavy on US/euro zone growth outlook divergence
© Reuters. FILE PHOTO: U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
The Australian dollar rose more than 0.5% in an initial knee-jerk reaction following a higher-than-expected inflation print in Australia on Wednesday. "The euro zone economy is kind of entering a recession, so this economic playout stiffens expectations that the European Central Bank might have peak in interest rates," said Tina Teng, market analyst at CMC Markets November meeting is likely to be live, and the cash rate to be hiked to 4.35%. And I suspect it will be a hawkish hike," said Matt Simpson, senior market analyst at City Index.
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