What news has been happening in the crypto market this week?
Aussie and Kiwi head south vs. broadly stronger US dollar
On Wednesday, the Australian and New Zealand dollars slumped because hopes for another US rate hike in December gave broad support to the US currency. Additionally, market participants were closely watching the Reserve Bank of New Zealand's interest rate verdict on Thursday.
The currency pair AUD/USD went down 0.38% being worth 0.7856. That’s the lowest outcome since August 16.
On Tuesday, Fed Chair Janet Yellen stressed that the major US bank requires continuing gradual interest rate leaps notwithstanding uncertainty as for the path of inflation.
The greenback had already gained support after on Monday New York Fed President William Dudley told that the Fed is on the verge of gradually lifting interest rates as factors depressing inflation are receding and the American economy's fundamentals are sound enough.
The currency pair NZD/USD edged down 0.17% trading at 0.7195.
The RBNZ is believed to leave interest rates intact at 1.75%, although comments following the verdict will be closely watched for any clues on future policy decisions.
A lot of political uncertainties are driving the British pound down.
The United States anticipates the release of headline and core durable goods orders on May 24, at 15:30 MT time.
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.