Australia's and New Zealand's dollars lower

Tuesday, 11/10/2016 | 07:47 GMT

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Australia's and New Zealand's dollar dropped versus their U.S. counterparts, today, amid the expectations that the greenback will be supported by a probable rate hike in the U.S. for 2016.

Australia's currency retreats 0.71% to the dollar

The AUD/USD currency pair reached the 0.7554 zone, thus retreating 0.71%. Following the weaker jobs data in the U.S., the demand for the nation's currency resumes being supported.

Earlier today, the business confidence index, as per the National Australia Bank, remained at 6 for the month of September.

The NZD/USD pair reached its weakest zone since the end of July, tumbling 0.97%.

Moreover, the declination in oil prices influenced the commodity based currencies. Moreover, the U.S. dollar index traded at 97.07, close to Friday's range of 97.22, having escalated 0.17%.

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Source: https://www.argusfx.com/en/research-education/market-analysis/news/australia-s-and-new-zealand-s-dollars-lower

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