1353 GMT - The Australian dollar has limited scope to rise against the New Zealand dollar after Australia's central bank started cutting interest rates this week, Rabobank's Jane Foley says in a note. Australia's central bank cut rates by 25 basis points Tuesday and could deliver two more 25 basis-point cuts in May and August, she says. New Zealand's central bank cut rates by 50 basis points Wednesday but signalled further moves would be smaller and it's nearing the end of its policy easing cycle. AUD/NZD upside potential will likely "run out of steam" and faces a period of range trading around the 1.11 area, she says. AUD/NZD falls 0.2% to 1.1116 after hitting a near two-month high of 1.1178 overnight, according to FactSet. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
February 19, 2025 08:53 ET (13:53 GMT)
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