Aussie Extends Lead Versus Kiwi to Three Year High on RBA Bets

The Australian dollar climbed to a fresh three-year high versus its New Zealand peer after Australia’s quickening inflation led traders to pare bets on interest-rate cuts in the nation.

Australia’s currency rose as much as 0.3% to 1.1303 per kiwi, the highest since October 2022. That’s after local consumer prices climbed 3% from a year earlier in August, the highest in a year, backing the case for the Reserve Bank of Australia to stand pat at its Sept. 30 meeting.