Australia dollar up after China data; Kiwi slides
The Australian dollar AUDUSD +0.09% rose as high as $1.0192 after China said it logged an $18.16 billion trade surplus in April. Economists polled by Dow Jones Newswires expected, on average, a $15.55 billion surplus. The Aussie had bought $1.0179 late Tuesday.
The Australian currency dropped to two-month lows Tuesday after the Reserve Bank of Australia surprised most economists with an interest-rate cut. The RBA lowered the policy cash rate by a quarter-percentage point to 2.75%,
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