Forex - Aussie, Kiwi hold steady, eyes on Fed announcement

Forex - Aussie, Kiwi hold steady, eyes on Fed announcement

Investing.com  | Apr 11, 2016 02:16AM ET

Aussie and kiwi little changed vs. greenback in quiet trade

Investing.com - The Australian and New Zealand dollars held steady against their U.S. counterpart in quiet trade on Monday, as investors awaited an announcement by the Federal Reserve due later in the day.

AUD/USD was little changed at 0.7552.

Sentiment on the greenback remained vulnerable amid speculation that the Fed is likely to stick to a cautious approach towards raising interest rates in the coming months.

Lower interest rates make the dollar less attractive to yield seeking investors.

NZD/USD was steady at 0.6809.

Meanwhile, commodity currencies came under pressure as oil prices turned lower on Monday, after hitting two-week highs overnight.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.08% at 94.14, just off six-month lows of 94.03 reached overnight.

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