Middle East Tensions Weigh on Antipodean Currencies Amid Higher Oil Prices

The antipodean currencies, which include the Australian and New Zealand dollars, weakened against major currencies in Asia on Thursday due to rising Middle East tensions and higher crude oil prices.

This development has sparked inflation concerns, as fuel prices have increased. In contrast, US consumer price data showed a fairly tame increase, easing worries about interest rates.

Intermediaries are attempting to revive stalled US-Iran peace talks, with Pakistan announcing efforts to bring the two nations back to the negotiating table.