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On Monday, the Australian and New Zealand dollars were keeping to four-month maximums versus their American rival because the broadly stronger common currency kept weighing heavily on the US currency notwithstanding Friday's mostly positive American data.
The currency pair AUD/USD tacked on 0.34% hitting 0.7944, which is the highest value since September.
The common currency strengthened broadly because Thursday’s minutes of the European Central Bank’s December gathering told that officials could move to a gradual shift in policy guidance from the first quarter 2018.
Any changes to the ECB’s guidance would probably be considered by market participants as a sign that policymakers are ready to start winding down their bond purchasing stimulus program.
The greenback neglected Friday’s data showing that underlying American consumer prices reported their largest leap for 11 months in December, thus contributing to hopes that inflation will step up in 2018.
The currency pair NZD/USD gained 0.28% to 0.7268.
Reportedly, the ECB is analyzing the possibility of the change of the current inflation target of "below but close to 2%". It weakened the EUR
What is important today?
USD/SGD rises as the indicators disappoint the market.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
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