The New Zealand dollar halted the 4-day rally against its Australian counterpart today as the inflation data suggested no new rate hikes soon.

This week was rather interesting for the Australian dollar as it gained versus some currencies and fell against others. Against some currencies the Aussie experienced volatile swings, yet managed to end the week not very far from where it started.

The Australian dollar rose for the sixth consecutive week against its US counterpart as the rapid growth in the Asian region boosted the demand for the higher-yielding currencies and after the bets on the rates hike increased.

The Australian and New Zealand dollar went up versus the Japanese yen today after Japan’s government intervened, selling the yen. The New Zealand dollar fell against its US and Australian counterparts.

The Australian dollar fell against all of its major counterparts at today’s Forex market opening, as Australia may be left without a majority government for the first time since 1940. The Aussie has immediately entered an uptrend after this negative opening.

Following a rapid growth yesterday, the Australian dollar declines against its major counterparts (except euro) today as the market participants expect the interest rates to be on hold for some time.

The Australian dollar rose today against its New Zealand counterpart as the speculation arose that the government will make changes to the planned mining tax after the Prime Minister Kevin Rudd resigned.

The New Zealand strengthened today as the favorable data from the U.S. added to the signs of the economic recovery, while the New Zealand’s trade surplus may prompt the central bank to increase the interest rates; against the U.S. dollar the kiwi experienced volatility and currently fell.

The New Zealand dollar dropped today against its Australian counterpart on the concerns that the Aussie will be more attractive to the investors, interested in carry trade, because of the higher interest rates in Australia.

The Aussie rose to its mid-August highs against the Japanese yen today as the traders listened to the analysts’ speculations that the central bank has opened a carry trade opportunity with the interest rate hike.