Forex – Aussie, Kiwi Move Higher; Fed Meeting in Focus

Forex – Aussie, Kiwi Move Higher; Fed Meeting in Focus

© Reuters.  Aussie and kiwi gain ground vs. softer greenback© Reuters. Aussie and kiwi gain ground vs. softer greenback – The Australian and New Zealand dollars moved higher against their U.S. counterpart on Tuesday, despite the release of disappointing Australian data as sentiment on the greenback became vulnerable ahead of the Federal Reserve’s last policy meeting of the year.

rose 0.24% to 0.7545.

The greenback weakened although the Fed is widely expected to raise interest rates by 0.25% at its policy meeting this week.

Earlier Tuesday, the Australian Bureau of Statistics said its house price index fell in the third quarter, confounding expectations for a 0.6% ride, after an increase of 1.9% in the three months to June.

Separately, the National Australia Bank said its business confidence index slipped to in November from a reading of 8 the previous month.

gained 0.36% to trade at 0.6936, the highest since November 28.

The kiwi was boosted by the appointment of , a former central bank official, to head the Reserve Bank of New Zealand as of March 2018.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was little changed at 93.87 by 02:15 a.m. ET (06:15 GMT).

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