Aussie goes up, kiwi loses ground vs. greenback
On Thursday, the Australian dollar managed to strengthen against its American counterpart, while the New Zealand dollar went down because demand for the US dollar is still backed by expectations for a June rate lift by the Fed.
The currency pair AUD/USD gained 0.18%, being worth 0.7210, thus drifting away from Tuesday’s almost three-month minimum of 0.7146.
However, revenues were expected to remain quite limited, because the Australian Bureau of Statistics told earlier on Wednesday that private capital expenditure dropped by 5.2% during the first quarter, compared to expectations for a 3% sag.
By the way, in the fourth quarter of 2015, private capital expenditure surged by 1.8%. The given figure was revised from a previously estimated 0.8% soar.
Meanwhile, the US dollar remained backed up by expectations that the Fed could increase interest rates soon after last week’s April Fed gathering minutes flagged a probable rate lift if the economy of the USA keeps improving.
NZD/USD sank 0.36%, trading at 0.6716, the lowest value since March 28.