Aussie and kiwi go down

On Wednesday, the Australian and New Zealand dollars slumped against their American counterpart, as the US dollar managed to regain some ground having tumbled broadly because of lower expectations for another Fed rate lift before the end of the year.

The currency pair AUD/USD went down 0.28%, being worth 0.7589.

The major American currency gained moderate support after the Commerce Department told on Tuesday that personal spending soared more than expected, by approximately 0.4% in June. Meanwhile, household spending soared 0.4% too in May.

Aside from that, the report revealed that personal income edged up 0.2%, dipping short of forecasts of 0.3% soar.

However, the evergreen buck remained under pressure after Dallas Fed head Robert Kaplan urged caution on increasing American interest rates amid a raft of risks faced by the global economy.

Expectations for another American rate lift before the end of 2016 also declined following last week’s poor US second quarter growth data.

The currency pair NZD/USD sagged 0.64%, trading at 0.7198.


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