Time to buy the world’s worst currencies
We could gain from buying emerging-market currencies such as South African rand, Mexican peso and Brazilian real.
Aussie moves up, Kiwi stands still in late trade
On Wednesday, the Australian dollar grew versus its American counterpart, while the New Zealand dollar was intact after a holiday in America. Additionally, traders kept focusing on a fresh North Corean missile test.
The currency pair AUD/USD went up 0.22%, trading at 0.7621.
On Monday, positive American manufacturing data backed expectations for another rate lift by the major US bank in 2017 and assisted the dollar index to move away from Friday’s nine-month sink.
The evergreen buck had been under pressure the previous week amid hopes that key banks in Canada and Europe are on the verge of joining the Fed in tightening monetary policy.
On Tuesday, American markets didn’t function because of the Independence Day holiday.
The currency pair NZD/USD was nearly intact, showing 0.7285.
Aside from that market participants were still cautious after North Korea declared on Tuesday it had managed to launch a new ballistic missile that fell in the Sea of Japan. As Tokyo states it’s an obvious violation of UN resolutions.
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Time to buy the world’s worst currencies
We could gain from buying emerging-market currencies such as South African rand, Mexican peso and Brazilian real.
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