© Reuters. Aussie and kiwi pull back but continue to trade near recent highs
Investing.com – The Australian and New Zealand dollars slipped lower against their U.S. counterpart on Monday, as the greenback mildly recovered from recent losses although it continued to hover near three-year lows against a basket of major currencies.
edged down 0.18% to 0.8094, just off Friday’s 32-month peak of 0.8137.
The greenback found some support after data on Friday showed that U.S. durable goods orders increased by in December and that real consumer spending advanced in the fourth quarter.
However, sentiment on the U.S. dollar remained vulnerable after U.S. Treasury Secretary Steven Mnuchin said last week that a weaker dollar .
President Donald Trump contradicted Mnuchin’s position by defedning the need for a strong currency, but traders fear the White House as a tool to get better trade deals with other countries.
slipped 0.15% to trade at 0.7339, still close to last week’s four-month high of 0.7438.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was almost unchanged at 88.92 by 02:05 a.m. ET (06:05 GMT), not far from last Thursday’s three-year low of 88.25.
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