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Forex - Aussie slips lower, kiwi edges higher as RBNZ holds

Published 23/03/2017, 06:28 pm
Updated 23/03/2017, 06:32 pm
© Reuters.  Aussie loses some ground and kiwi moves up vs. greenback in late trade

© Reuters. Aussie loses some ground and kiwi moves up vs. greenback in late trade

Investing.com - The Australian dollar slipped lower against its U.S. counterpart on Thursday, although sentiment on the greenback remained vulnerable. Meanwhile, the New Zealand dollar edged up after the Reserve Bank of New Zealand left interest rates unchanged.

AUD/USD slipped 0.25% to 0.7657.

The Australian dollar’s losses were expected to remain limited as the greenback remained under heavy pressure ahead of a key vote on U.S. President Donald Trump’s healthcare bill later in the day.

Investors were jittery regarding Trump’s ability to gather enough support for his healthcare bill – set to replace Obamacare and one of his key campaign pledges.

The greenback had already weakened broadly following the Federal Reserve’s dovish comments last week.

In addition, Chicago Fed President Charles Evans said on Monday that the Fed is on track to raise rates twice more this year, underlining the view that the central bank will stick to a gradual pace of tightening after last week’s rate hike.

NZD/USD edged up 0.09% to trade at 0.7051.

Meanwhile, the RBNZ held its benchmark interest rate at 1.75% earlier Thursday, in line with expectations.

Commenting on the decision, the central bank said it continues to see the next move in interest rates being up, “but not until mid-2018.”

Market participants were also focusing on the London terror attack that took place on Wednesday.

Five people, including a police officer and one man believed to be the attacker, were killed in an attack that London police are calling a "terrorist incident.

The suspect mowed down pedestrians in a vehicle on Westminster Bridge before fatally stabbing the officer outside the Houses of Parliament and being shot and killed.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 99.49, just off the previous session’s six-week low of 99.34.

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