Australian Dollar drops a two day low as compared to New Zealand counterpart
In Asia Australian Dollar witnessed a drop of a two day low against the Dollar of New Zealand. In the meantime the Australian Dollar was stronger as compared to American Dollar and Canadian currency. On Wednesday Australian Dollar moved ahead against the American Dollar in the Asian deals. The Australian Dollar arrived at 0.8604 which was up from a low of 0.8496 hit yesterday.
The Australian Dollar pair closed the North American session at 0.8560 on Tuesday. The meeting where the members of FOMC took part and in the meeting there were some members who were of the view that the rates should be increased earlier as it was expected by the financial markets.
Following the meeting of September 16th, the Federal Reserve is planned to finalize their next verdict on the rates of interest. Analysts will be having a close watch on the released data in the weeks that will be leading to the meeting to decide the probable decision of Fed’s. The Australian Dollar reached at 1.7165 as compared to the European single currency on Tuesday and became stronger afterwards.
The euro-Aussie Dollar pairing currently quoted at 1.7140 as compared to 1.7118 hit on Tuesday. The Australian Dollar against its New Zealand counterpart witnessed a decrease on Tuesday. At the moment the Aussie and New Zealand counterpart paring is trading at 1.2224 as compared to the yesterday’s closing value of 1.2275. The Australian Dollar was between 93.89 and 93.61 as compared to the Japanese Yen. For the moment the pairing of Australian Dollar and yen is trading at 93.82 as compared to the closing value of 93.82 on Tuesday.
The Australian Dollar against the Canadian currency gained in the evening on Tuesday. The Australian Dollar and Canadian counterpart moved to 0.8996 from 08984. The pairing that ended New York deals at 0.8976 is trading at the moment at 0.8984. As in the European session there are no economic releases listed, the traders are awaiting of the American July durable goods orders report which was scheduled to get released in the New York’s session.