Aussie and Kiwi rise vs. US dollar in late trade

Aussie and Kiwi rise vs. US dollar in late trade

On Monday, the Australian and New Zealand dollars rallied because Friday's dismal American economic reports kept weighing on the US dollar and financial markets started focusing on the Fed’s policy gathering scheduled later in the week.

The currency pair AUD/USD inched up 0.30% being worth 0.8028.

The major US currency was pressured after Friday’s data disclosed that American industrial and manufacturing output suddenly tumbled in August.

Additionally, the US Commerce Department reported that in August retail sales suddenly sagged by 0.2%.

Later this week, the major US bank was supposed to leave interest rates intact, but it could provide indications on when it actually intends to start unwinding its balance sheet.

The currency pair NZD/USD soared 0.36% being worth 0.7316.

Financial markets seemed to have revived from the fact that North Korea fired another missile over Japan. That’s the isolated regime’s second missile launch over Japanese territory for the last two weeks.

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