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On Monday, the Australian and New Zealand dollar went down because Friday’s positive data kept backing demand for the US currency. However, rumors over the next Fed Chair restricted the greenback’s gains.
The currency pair AUD/USD dipped 0.12% hitting 0.7668, which is not far from Friday's three-month minimum of 0.7625.
The greenback was still underpinned after on Friday the Commerce Department told that the American economy ascended t a 3% annual rate during the third quarter, which is better than estimates for surge of 2.5%.
The stronger-than-anticipated outcome actually underlined the case for the major US bank to lift interest rates before the end of 2017.
The US currency had already obtained a boost on Thursday right after House Republicans managed to pass a budget blueprint for next year. Some market participants are assured that tax reforms could stimulate surge and help the Fed to lift rates at a faster pace.
NZD/USD slumped 0.68% hitting 0.6840.
On Tuesday, the evergreen buck slumped due to the fact that the key US bank started its two-day gathering, with many expecting the major financial institution to come up with a dovish outlook on monetary policy when the gathering concludes on Wednesday…
For the last week, crypto assets jumped, backed by a 25% leap in Bitcoin Cash, in contrast with a backdrop of further indications of sluggishness in fiat currencies, including the evergreen buck…
On Monday, the evergreen buck slumped to a two-and-a-half week minimum because market participants pulled back ahead of the Fed’s meeting a bit later in the week…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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