The U.S. dollar was stuck near two-month lows on Wednesday as weak economic data bolstered views that the Federal Reserve is near the end of its tightening cycle, while the New Zealand dollar jumped after a larger-than expected interest rate hike.
interest by 50 basis points to a more than 14-year high of 5.25% in a move that surprised markets, as 22 of 24 economists in a Reuters poll had forecast just a 25 bps hike.
Job openings, a measure of labour demand, were down 632,000 to 9.9 million on the last day of February, the monthly Job Openings and Labor Turnover Survey, or JOLTS report, showed. Economists polled by Reuters had forecast 10.4 million openings. "The market is still looking at the U.S. data very closely ... The market is very sensitive to how well the U.S. growth outlook is holding up in light of the banking stress," said Moh Siong Sim, currency strategist at Bank of Singapore.
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