FXstreet.com (Sydney) - The Aussie lost recent gains against the Kiwi and is now trading at 1.2466. The pair had earlier opened at 1.2477 in the local session and posted an intraday high of 1.2492.
The Aussie lost ground in today's local session following wages data released by the ABS for the September quarter. While wages grew by 0.7% this was within market expectations and had risen at a slower rate. This meant that inflationary pressures would subside and therefore make it unlikely for interest rates to rise again in 2009.