The Australian and NZ dollars extended their early rally against most major currencies in early European deals on Wednesday after Germany's Federal Constitutional Court allowed the ratification of the European Stability Mechanism.
However, the court said Germany must cap its bailout fund share at EUR 190 billion
The aussie rose to near a 3-week high of 1.0502 against the greenback, 5-day high of 81.78 versus the yen and a 12-day high of 1.0214 against the loonie.
The kiwi also advanced to near a 3-week high of 64.11 against the yen and a 5-month high of 0.8239 against the greenback.
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Forex News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.