Home Forex Amid profit-taking, Aussie and kiwi up against greenback

Amid profit-taking, Aussie and kiwi up against greenback

by Jonathan Adams

The Australian and New Zealand dollars moved higher against their U.S. counterpart on Monday, as investors continued to make profits from the greenback’s recent rally.

AUD/USD climbed 0.54% to 0.7484, the highest since November 17.

The greenback has been broadly supported in recent weeks amid expectations that increased fiscal spending and tax cuts under the Trump administration will spur economic growth and inflation.

The dollar has also been boosted by the view that a rate hike by the Federal Reserve in December is a near certainty.

NZD/USD advanced 0.71% to trade at 0.7094, also the highest level since November 17.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.49% at 100.98, the lowest since November 21 and pulling away from Thursday’s 14-year peak of 102.12.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Related News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Know more