Investing.com – The Australian and New Zealand dollars edged lower against their U.S. counterpart on Wednesday, as the mildly recovered from recent losses for the first trading week of the year.
was down 0.17% at 0.7817, just off the previous session’s two-month peak of 0.7845.
The U.S. dollar weakened in 2017 as the global economy gained momentum fueling expectations for tighter monetary policy in other countries, which would lessen the divergence between the Federal Reserve and other central banks.
Market watchers were looking ahead to Wednesday’s minutes of the Fed’s December meeting for further hints on the future path of monetary policy, as well as the U.S. nonfarm payrolls report due on Friday.
edged 0.11% lower to 0.7094, still close to Tuesday’s two-and-a-half month high of 0.7130.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 91.69 by 02:05 a.m. ET (06:05 GMT), not far from the previous session’s four-month low of 91.47.
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