Aussie and Kiwi rise as greenback dives

Aussie and Kiwi rise as greenback dives

On Wednesday, the Australian and New Zealand dollars rallied versus their American rival, reviving from recent losses because demand for the US currency declined amid speculation the next Fed Chair could be less hawkish than anticipated.

The currency pair AUD/USD leapt 0.38% reaching 0.7865, off last trading session's two-and-a-half month minimums of 0.7786.

The previous week Fed Governor Jerome Powell as well as ex-governor Kevin Warsh were both interviewed at the White House just to replace Janet Yellen as Fed Chair next February.

While they’re considered to be serious candidates, Jerome Powell is believed to be more dovish than Warsh. Kevin Warsh heavily criticized the US key bank’s bond-buying program.

The greenback strengthened earlier in the week following rumors that Warsh might be the number one nominee to replace Janet Yellen.

The currency pair NZD/USD rallied 0.28% trading at 0.7180, drifting away from Tuesday's one-month dip of 0.7147.


Can the UK CPI surprise?
Can the UK CPI surprise?

The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.

The US Retail Sales Update
The US Retail Sales Update

The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.

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