Australian dollar reaches new 3-year high, New Zealand dollar climbs to highest point in 7 months

Australian Dollar Reaches Highest Level in Three Years

The Australian dollar climbed to its strongest point in three years on Thursday, buoyed by record-breaking gold prices and increasing speculation of an upcoming interest rate increase domestically. This momentum also propelled the New Zealand dollar to its highest value in seven months.

Meanwhile, the US dollar found some support overnight following comments from Treasury Secretary Scott Bessent, who reaffirmed Washington’s commitment to a strong-dollar policy. This came after President Donald Trump downplayed the currency’s recent decline. Additionally, the Federal Reserve’s slightly hawkish stance—keeping rates unchanged while describing the economy as “solid”—helped the greenback, with markets now anticipating the next rate cut to be delayed until June.