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Aussie and Kiwi drop vs. broadly stronger greenback

On Tuesday, the Australian as well as New Zealand dollars tumbled against their American counterpart, notwithstanding the publication of upbeat Australian building approvals data, as the US dollar remained mostly underpinned by hopes for an American rate hike.

The currency pair AUD/USD lost 0.08%, trading at 0.7562.

The Australian Bureau of Statistics reported that building approvals soared by 11.3% in July, thus beating hopes for a 0.5% descend. Building approvals slumped 4.7% in June, whose figure got revised from a previously estimated 2.9% sag.

The currency pair NZD/USD headed south 0.11% being worth 0.7244.

As for the greenback, this currency remained mostly supported after Fed Chair Janet Yellen, who told at the Jackson Hole symposium on Friday that the case for American interest rate lifts has gained more grounds for recent months thanks to improvements in the labor market and also hopes for steady economic growth.

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