Australian and New Zealand dollars

Australian and New Zealand dollars – The Australian and New Zealand dollars rose against their U.S. counterpart on Monday, as investors locked in profits on the greenback’s recent rally due to heightened expectations for a June rate hike by the Federal Reserve. AUDUSD rose 0.36% to 0.7249, off last week’s two-and-a-half month lows of 0.7172.

The dollar strengthened broadly after the Federal Reserve’s April meeting minutes on Wednesday indicated that interest rates could rise as soon as June. Officials said a June rate hike would be appropriate if economic data indicated that growth was picking up in the second quarter and employment and inflation were firming. In addition, New York Federal Reserve President William Dudley said on Thursday that the U.S. economy could be strong enough to warrant a rate hike in June or July.

NZDUSD advanced 0.74% to trade at 0.6805, pulling away from last week’s two-month trough of 0.6707.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.13% at 95.17, after hitting three-week highs of 95.51 on Friday.

Source:  Traders Trust Broker (Review and Forex Rebates Up to 85%)

About Traders Trust

Traders Trust offers competitive low spreads. The vast trading capital and volume generated through Traders Trust allows us to negotiate excellent inter-bank conditions with our liquidity providers. You can trade forex with margin requirements of up to 0.2%, and up to 5% for CFD�s, which is among the lowest available in the market.

Users can open a Forex Demo Account and practice trading with real market conditions. You can start trading for real in your live Forex Account with as little as $100. All client funds are deposited with highly respected financial institutions and leading international banks.