On Monday, the Australian and New Zealand dollars managed to strengthen against the evergreen buck. It’s because of the US dollar was still under pressure after the Fed’s verdict to leave interest rates intact. Furthermore, growing oil boosted commodity currencies.
The currency pair AUD/USD surged 0.68, trading at 0.7444, perhaps the highest outcome since June 9.
The major American currency slumped after last week, the number one US financial institution left its interest rates intact and then lowered forecast as for how much they expect to raise rates in the nearer future.
On Tuesday and Wednesday, market participants were kept an eye open on monetary policy by Janet Yellen, Fed Chair.
The currency pair NZD/USD went up 1.07%, trading at 0.7115, the highest reading since June 10.
Meanwhile, on Monday, crude prices kept moving higher as worries over a probable British exit from the European Union, eased.
Two opinion surveys issued on Saturday disclosed that support for the Remain camp had managed to regain its lead over a vote to abandon the EU, while a third demonstrated momentum shifting in favor of the EU membership.