Aussie is intact, Kiwi dives in late trade

Aussie is intact, Kiwi dives in late trade

On Monday, the Australian dollar stood still versus its American rival, while the New Zealand dollar headed south. However, market sentiment on the evergreen buck was still fragile amid worries over low American inflation levels.

The currency pair AUD/USD was intact, sticking to 0.7611.

Market sentiment on the US currency was still vulnerable after last Wednesday’s minutes of the Fed’s November gathering showed that some officials were worried that US inflation would stay below the bank's 2% objective for longer than anticipated.

Additionally, the minutes actually echoed remarks by Janet Yellen, Fed Chair. She expressed uncertainly as for the inflation outlook.

While upcoming December’s rate lift is still nearly fully priced in, market participants pared back hopes for further rate increases next year, sending the greenback down.

Investors also kept focusing on a potential American tax reform initiative. Donald Trump was braced for meeting Senate Republicans on Tuesday in order to talk about the party's efforts to have tax reform legislation passed.

The currency pair NZD/USD slumped 0.16% trading at 0.6869.

 

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