Aussie and Kiwi tack on

Aussie and Kiwi tack on

On Tuesday, the Australian and New Zealand dollars soared versus their American rival after the Reserve Bank of Australia left interest rates intact and optimism over the vote of an American tax reform bill started waning.

The currency pair AUD/USD inched up 0.59% hitting 0.7644, which is off a three-week maximum of 0.7654 reached overnight.

In a widely anticipated move, the RBA didn’t change its benchmark interest rate, leaving it at 1.50%.

RBA Governor Philip Lowe told that the major financial institution maintained its estimate for inflation to soar gradually as the Australian economy edges up.

Besides this, the Australian Bureau of Statistics told that the current account surplus dipped to A$9.1 billion during the third quarter versus A$9.7 billion in the second quarter.

Market expert had hoped for a current account deficit of about A$9.2 billion in the last quarter.

The currency pair NZD/USD tacked on 0.54% being worth 0.6898.

 

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