Investing.com – The Australian and New Zealand dollars edged higher against their U.S. counterpart on Thursday, as sentiment on the greenback remained fragile despite encouraging from the Federal Reserve’s latest meeting and upbeat U.S. manufacturing activity data.
was up 0.13% at 0.7845, just off a two-and-a-half month high of 0.7857 hit overnight.
The U.S. dollar briefly recovered after Fed policymakers , in the minutes of the Fed’s December meeting released Wednesday, that the U.S. labor market and economic activity remain strong, despite persistently low inflation.
The minutes seemed to suggest that the central bank will continue to raise rates gradually but the pace could pick up if inflation rises.
Separately, the Institute of Supply Management said its manufacturing purchasing managers’ index rose to last month from 58.2 in November, confounding expectations for a downtick to 58.1.
gained 0.38% to trade at 0.7118.
Market watchers were now looking ahead to due on Friday.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 91.85 by 02:10 a.m. ET (06:10 GMT).
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Latest posts by investing.com (see all)
- Forex – Sterling Falls Below 1.30 for First Time in 10 Months - July 20, 2018
- Forex – Dollar Hits 1-Year Highs, Euro Falls below $1.16 - July 19, 2018
- Firmer U.S. dollar boosts corporate interest in currency hedging - July 19, 2018