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Aussie and kiwi ascend as sentiment improves

On Tuesday, the Australian and New Zealand dollars climbed up  against their major American counterpart, as market participants started digesting the UK’s recent decision to abandon the European Union, thus backing up risky assets.    

The currency pair AUD/USD managed to grow 0.93%, getting to 0.7396.

Market sentiment was affected after Great Britain voted by almost 52% to 48% last Thursday in order to break away from the world's number one trading bloc.

Traders are afraid that the decision could impact investment in the British economy and threaten London's role as a global financial center and also trigger months of political uncertainty after David Cameron, British Prime Minster stepped down on Friday.

Apart from that, the Brexit vote weighed on crude prices, that in return worsened demand for the commodity-currencies, though oil rebounded on Tuesday.

The currency pair NZD/USD soared 1.01%, trading at 0.7068.

The U.S. dollar index, evaluating the greenback’s power against six major currencies, dropped 0.33% trading at 96.22.

 

 

 

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