Australia’s dollar was 0.6 percent from its highest level in more than four months after data showed home-loan approvals rose in June by the most this year, adding to signs of improvement in the economy.
New Zealand’s so-called kiwi dollar declined against all of its major peers for a second day after Prime Minister John Key said there may be scope for the central bank to lower borrowing costs. Demand for both South Pacific nations’ currencies was tempered before data that may show weakness in German industrial production and Chinese retail sales, adding to concern the global economy is slowing.
via Bloomberg
