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Aussie and kiwi edge down amid declining crude prices

On Tuesday, the Australian and New Zealand dollars dropped against the greenback, following expectations for a June rate hike kept powering the evergreen buck, while dipping crude prices weighed on the commodity currencies. 

The currency pair AUD/CAD went down 0.42%, being worth 0.7194, close to last week’s two-and-a-half month minimum of 0.7172.

The major US currency remained broadly backed up after the Fed’s  April gathering minutes on Wednesday showed that interest rates could surge as soon as June.

In his Monday’s speech John Williams, San Francisco Fed President told he actually expects the Fed to raise its interest rates at least two times this year, although he was focused on the dip in inflation expectations.      

The comments arose right after Eric Rosengren , Boston Fed President dropped a hint at the weekend that America was very close to meeting most of the major economic conditions required for the Fed to proceed with its tightening of monetary policy.

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