Aussie and kiwi edge up after Fed leaves policy intact
On Thursday, the Australian and New Zealand dollars grew against their US counterpart, after the Fed’s verdict to leave its monetary policy intact dampened demand for the major American currency.
The currency pair AUD/USD managed to earn 0.43%, trading at 0.7524.
In a widely expected move, the US major financial institution left interest rates intact at the conclusion of its two-day policy gathering on Wednesday.
Additionally, in its monthly policy statement, the Fed informed that near-term risks to the economic outlook have already slumped, while the labor market has soared.
The positive outlook powered speculation over a near-term rate lift by the US major bank, possibly as soon as September.
The currency pair NZD/USD edged up 0.47%, being worth 0.7109, the highest value since July 19.
Apart from that, the commodity currencies were also backed by a rebound in crude prices on Thursday, though global oversupply concerns kept weighing.