(Bloomberg) -- The Australian dollar declined, in the biggest fluctuation of any currency today, after the central bank cut its inflation forecast, weakening the case for an interest-rate increase.
The local dollar is the worst performer of the 16 most traded currencies this week as traders pared bets the Reserve Bank of Australia will increase the nation's 6.25 percent benchmark rate this year. The Australian dollar also fell to the lowest in almost four weeks after a government report showed the trade deficit widened more than expected.
Read more at Bloomberg Currencies News
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