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Aussie stands still, kiwi moves higher against greenback

On Wednesday, the Australian dollar stood still against the evergreen buck, while the New Zealand dollar edged higher as markets kept digesting Brexit.   

The currency pair AUD/USD was intact at 0.7387.

On Tuesday, the US dollar lost ground as worries over the effects of Great Britain’s decision to leave the European Union started easing, thus powering demand for riskier assets.

Traders’ optimism was also driven after the US Conference Board said its index of consumer confidence went up to 98.0 this month from May’s reading of 92.4.

The report kicked in after the third estimate of the first quarter American growth domestic product demonstrated growth of 1.1%, revised up from the previous outcome of +0.8%. Financial experts had expected growth to settle at 1%.

The currency pair NZD/USD, went up 0.35%, trading at 0.7071.

The rebound in risk sentiment also kept bringing crude prices higher, which ensured support to the commodity currencies.

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