Forex – AUD/USD Edges Higher in Late Trade, Kiwi Follows
Investing.com – The Australian dollar and New Zealand dollars edged higher against their U.S. counterpart on Wednesday, as doubts over a potential U.S. tax overhaul before the end of the year weighed on the greenback.
AUD/USD added 0.10% to 0.7785.
The greenback came under pressure as U.S. President Donald Trump’s public feud with Tennessee Senator and fellow Republican Bob Corker sparked concerns over the vote of a major tax-code reform.
Market participants were also looking ahead to the minutes of the Federal Reserve’s most recent policy meeting, due to be released later in the day.
At its September meeting, the Fed had signaled the possibility of a third rate hike this year.
NZD/USD edged 0.17% higher to trade at 0.7081.
Meanwhile, concerns over Spanish political turmoil eased, lifting market sentiment.
Catalan leader Carles Puigdemont on Tuesday proclaimed the region’s independence from Spain but said the effects would be postponed to allow for talks with the Spanish government, averting a crisis.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.14% at 92.96, its lowest since October 2.