Aussie and Kiwi soar vs. US dollar ahead of Fed decision

Aussie and Kiwi soar vs. US dollar ahead of Fed decision

On Wednesday, the Australian and New Zealand dollars ascended versus their American rival because market sentiment on the US currency was still uncertain ahead of the Fed’s highly-anticipated policy decision a bit later in the day.

The currency pair AUD/USD gained 0.17% reaching 0.7571.

The Fed is generally believed to lift its interest rates at the conclusion of its two-day policy gathering later on Wednesday. However, worries over tepid inflation could change the outlook for next year.

The US currency also dived amid fresh American political worries, after a Democrat nominee managed to grasp a US Senate seat in Alabama, thus diminishing the Republican camp's Senate majority.

The reduced Senate majority could potentially prevent Donald Trump from implementing tax reform plans as well as other economic policies.

The currency pair NZD/USD gained 0.10% hitting 0.6941, which is the highest value since November 9.

 

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