Aussie and Kiwi leap vs. weaker US currency

Aussie and Kiwi leap vs. weaker US currency

On Tuesday, the Australian and New Zealand dollars managed to jump versus the greenback, while worries over the tempo of upcoming American rate lifts kept putting pressure on demand for the US currency.

The currency pair AUD/USD gained 0.11% hitting 0.7609.

Market sentiment on the US dollar was still vulnerable after the previous week's minutes of the Fed’s November gathering showed that some Fed officials worried that US inflation would stay below the Fed’s 2% objective for longer than anticipated.

Market participants were also closely watching Tuesday’s confirmation hearing for Fed Chair candidate Jerome Powell, with expectations he might provide some extra clues on future policy decisions.

Additionally, investors also kept focusing on a potential American tax reform plan. On Tuesday, Donald Trump was braced for meeting Senate Republicans to negotiate the party's efforts to have tax reform legislation passed.

The currency pair NZD/USD rallied 0.26% being worth 0.6933, which is the highest value since October 11.

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