The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
Aussie and Kiwi tumble as greenback mildly revives
On Monday, the Australian and New Zealand dollars went down versus its American counterpart because the US dollar started recovering from last session's steep losses and as financial markets kept focusing on the impact of natural disasters in America.
The currency pair AUD/USD decreased 0.09% sticking 0.8048, having reached a 28-month high of 0.8125 on Friday.
Diminished hopes for a third rate lift in 2017 coupled with concerns regarding the economic impact of hurricanes in the southeastern US put pressure heavily on the US currency.
On Saturday, Donald Trump told that he’s going to ask Congress to step up its efforts to overhaul the American tax code, hinting at the potential impact of Hurricane Irma.
The currency pair NZD/USD tumbled 0.17% being worth 0.7254, off Friday's two-week maximum of 0.7337.
Traders had been worried about a probable North Korean missile test on Saturday, just to commemorate their national holiday.
The US CPI and core CPI are due at 15:30 MT time on May 12.
April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.
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