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Aussie, kiwi move higher ahead of Yellen speech

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The Australian and New Zealand dollars moved higher against their U.S. counterpart on Thursday, as sentiment on the greenback became more fragile ahead of U.S. data due later in the day and a speech by Federal Reserve Chair Janet Yellen on Friday.

AUD/USD rose 0.21% to 0.7629.

Investors are waiting to see if Yellen will restate the hawkish view of the economy expressed by Fed officials last week or echo the minutes of the Fed’s July meeting, which indicated that officials are divided over the timing of raising rates.

Market participants were also looking ahead to reports on U.S. jobless claims and durables goods orders, due later Thursday, for further indications on the strength of the economy.

NZD/USD eased up 0.08% to trade at 0.7319, re-approaching a recent 15-month high of 0.7347.

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Paul

The author Paul