The New Zealand and Australian dollars went higher against the American Dollar

The New Zealand and Australian dollars went higher against the American Dollar

By: Simon Furman | Where To Trade | On:Monday, 28 November 2016
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   The New Zealand and Australian dollars went higher against the Greenback on Monday. This happened due to investors that continued to take profit from dollar's rally. 

This way, the AUD/USD pair went higher to 0.7484. up 0.54%. This was the highest since 17 of November, this year.

The dollar had an up road recently, supported by the expectation of tax cuts and increased fiscal spending under Donald Trump's administration. This alegedly will spur inflation and economic growth. 

The Greenback was also pushed higher by a future foresight of Federal Reserve having a rate hike in December.

On Friday, the Thanksgiving day holiday made the U.S. markets to be open only for a half a day.

The NZD/USD pair went on a higher route since 17 of November, at 0.7094, by 0.71 percent. 

The U.S. dollar index went downhill at 100.98, by 0.49 percent. This was the lowest since 21 of November. The result made the U.S. dollar to bear away from its 14-year peak on Thursday.

 

Simon Furman

Simon Furman

Think Global - Act Local

Simon Furman is one of the best financial analyst with 27 years of trading experience

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