Aussie and Kiwi sag against stronger greenback

On Tuesday, the Australian and New Zealand dollars edged down against their American counterpart, as hopes for a 2016 American rate lift kept backing demand for the greenback.

The currency pair AUD/USD retreated 0.71%, getting to a three-week minimum of 0.7554.

Demand for the greenback remained backed as Friday’s dismal American jobs data wasn’t expected to prevent the major US bank from raising interest rates later in 2016.

Earlier on Tuesday, the National Australia Bank informed its business confidence index remained intact at 6 in September.

The currency pair NZD/USD went down 0.97%, reaching 0.7065, the lowest value since July 28.

The commodity currencies were affected by Tuesday’s drop in crude prices, though oil remained backed by surging hopes for an output cut by OPEC members.

The US dollar index, estimating the greenback’s strength against six key currencies, soared 0.17%, hitting 97.07. 

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