Aussie and Kiwi head north ahead of Yellen’s speech
On Thursday, the Australian as well as New Zealand dollars went up against their American counterpart, as sentiment on the US dollar turned more fragile ahead of American data due later in the day and a Yellen’s speech on Friday.
The currency pair AUD/USD soared 0.21%, trading at 0.7629.
Market participants are waiting to see if Yellen will restate her hawkish view of the American economy expressed by Fed representatives the previous week or echo the minutes of the Fed’s July gathering, which pointed out that Fed officials are divided on when to lift rates.
Traders were also looking ahead to reports on American jobless claims as well as durables goods orders, due later Thursday, for further clues on the strength of the US economy.
The currency pair NZD/USD descended 0.08%, being worth 0.7319, thus re-approaching a recent 15-month peak of 0.7347.
Meanwhile, the commodity currencies gained some support as crude prices bounced back on Thursday, notwithstanding a sudden soar in American stockpiles last week.