On Tuesday, the Australian dollar managed to strengthen against its American counterpart, following the minutes of the Reserve Bank of Australia, that provided no hints as for probable rate lifts. Meanwhile, the New Zealand dollar slumped as descending crude prices weighed on commodity currencies.
The currency pair AUD/USD went up 0.27%, trading 0.7477, the greatest outcome since June 9.
In the minutes of the RBA’s June monetary policy gathering, the bank remained quite positive regarding growth as well as employment in Australia, though stressed the risks of low inflation.
The country’s major financial institution didn’t provide any clues as for potential rate lifts in the near future, thus relieving investors’ worries that the RBA could decrease rates in the next 12 months.
The currency pair NZD/USD lost 0.10%, trading at 0.7113.
The US dollar remained under pressure because last week the Federal Reserve left interest rates intact and decreased forecast for how much they are going to raise interest rates in the nearer future.