Aussie and Kiwi hold steady
On Monday, the Australian and New Zealand dollars stood still against their American counterpart, as sentiment on the US dollar remained quite vulnerable after the Fed’s latest policy verdict, while dismal New Zealand trade data applied pressure on the local currency.
The currency pair AUD/USD stood almost intact at 0.7625.
Financial markets were still digesting the he Fed’s intention to leave its interest rates intact at the conclusion of its policy gathering on Wednesday, though it dropped hints that a lift could come in December if the job market keeps improving.
The currency pair NZD/USD was unchanged at 0.7246.
Statistics of New Zealand told over the weekend that in August, the trade deficit surged to about NZ$1,265 million from NZ$433 million last month.
Financial experts had expected the trade deficit to ascend to up to $NZ766 million the previous month.
The US dollar index, always gauging the dollar’s value against a trade-weighted basket six crucial currencies, stood still at 95.40.