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Aussie stands still, kiwi ascends

On Wednesday, the Australian dollar stood still against its American counterpart, while the New Zealand dollar went up, though revenues are expected to remain restricted because global growth worries kept weighing on market sentiment.     

The currency pair AUD/USD stood almost intact, trading at 0.7507.

Market participants remained cautious after the International Monetary Fund dared to reduce its projection for global economic growth this year to 3.1%, from the previous 3.2%, although expecting a rebound to 3.4% next year.

The IMF reduced the US growth forecast to 2.2% from 2.4%, though told the Brexit negative effect on the American economy would be muted. It was explained by the fact that the reduction appeared to be due to weaker than expected first quarter GDP.

The currency pair NZD/USD gained 0.14%, trading at 0.7065.

The commodity currencies gained some support as crude prices edged up on Wednesday after the American Petroleum Institute reported crude stockpiles sagged  more-than-expected the previous week.

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