Aussie stands still, Kiwi moves higher ahead of US data

On Wednesday, the Australian dollar stood still against its American counterpart, while the New Zealand dollar tacked on, notwithstanding the issue of downbeat data from New Zealand, as traders eyed upcoming American jobs data due later in the day.

The currency pair AUD/USD was almost intact at 0.7513, just off Tuesday’s one-month minimums of 0.7495.

Traders were looking ahead to an American  employment report due later Wednesday, for further clues on the strength of the US economy.

On Tuesday Federal Reserve Vice Chairman Stanley Fischer told that the American labor market is almost at full strength and the tempo of interest rate hikes will be data dependent.

The currency pair NZD/USD earned 0.35%, trading at 0.7243.

Earlier on Wednesday, data revealed that the ANZ business confidence index for New Zealand decreased to 15.5 in August from 16.0 last month.

The US dollar index, usually gauging the greenback’s strength against six main currencies, stood still at at 96.04, just off the three-week peak of 96.12 achieved overnight.

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