Forex – Aussie Slips Lower, Kiwi Holds Steady in Late Trade

Aussie loses some ground, kiwi holds steady vs. slightly stronger greenback – The Australian dollar slipped lower against its U.S. counterpart on Monday, while the New Zealand dollar held steady as comments by Federal Reserve officials offset Friday’s disappointing U.S. nonfarm payrolls for the greenback.

was down 0.22% at 0.7848, not far from Friday’s three-month peak of 0.7867.

The greenback weakened after the U.S. Department of Labor reported on Friday that the economy added in December, disappointing expectations for an increase of 185,000. The unemployment rate remained unchanged at 4.1%, as expected.

However, sustained expectations for more U.S. interest rate hikes limited the U.S. dollar’s losses.

San Francisco Fed President John Williams said on Saturday that the Fed should raise interest rates given that economy will benefit from tax cuts.

The comments came a day after Cleveland Fed President Loretta Mester said she expects about , thanks to solid U.S. economic growth and low unemployment.

held steady at 0.7174, just off Friday’s three-month high of 0.7188.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.13% at 91.87 by 02:00 a.m. ET (06:00 GMT).

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