FXNET LTD
Broker Representative
Aussie and Kiwi reach 10-month highs against Dollar
Greenback remains under pressure
The Aussie and Kiwi reached ten-month highs versus the US dollar on Tuesday, while the minutes of the Reserve Bank of Australia’s (RBA) meeting showed that interest rates are remaining steady for a while and employment trends will be kept in focus.
The RBA is concerned about the strength of the Aussie, stating “members noted that an appreciating exchange rate could complicate progress in activity rebalancing towards the non-mining sectors of the economy”.
AUD/USD rose 0.59%, reaching a 10-month high of 0.7756.
Commodity currencies increased due to higher oil prices, as Kuwait’s oil worker strike cut the country’s crude output almost in half.
NZD/USD rose 0.76% also reaching a 10-month high, trading at 0.7001.
The greenback stayed under pressure due to Friday reports showing that US inMarch declined more than expected, as there was a slight decrease in consumer sentiment this month as well.
The reports pointed out that the Fed will probably take a cautious approach on future interest rate hikes.
The US dollar index, which measures the greenback’s strength versus a basket of six other major currencies was 0.17% at 94.29, reaching a new low since April 13.
Greenback remains under pressure
The Aussie and Kiwi reached ten-month highs versus the US dollar on Tuesday, while the minutes of the Reserve Bank of Australia’s (RBA) meeting showed that interest rates are remaining steady for a while and employment trends will be kept in focus.
The RBA is concerned about the strength of the Aussie, stating “members noted that an appreciating exchange rate could complicate progress in activity rebalancing towards the non-mining sectors of the economy”.
AUD/USD rose 0.59%, reaching a 10-month high of 0.7756.
Commodity currencies increased due to higher oil prices, as Kuwait’s oil worker strike cut the country’s crude output almost in half.
NZD/USD rose 0.76% also reaching a 10-month high, trading at 0.7001.
The greenback stayed under pressure due to Friday reports showing that US inMarch declined more than expected, as there was a slight decrease in consumer sentiment this month as well.
The reports pointed out that the Fed will probably take a cautious approach on future interest rate hikes.
The US dollar index, which measures the greenback’s strength versus a basket of six other major currencies was 0.17% at 94.29, reaching a new low since April 13.
