Thursday, May 19, 2016

Forex - Aussie, kiwi move lower vs. greenback after Fed minutes

© Reuters. Aussie and kiwi lose ground against stronger greenback© Reuters. Aussie and kiwi lose ground against stronger greenback

Investing.com - The Australian dollar dropped to two-month lows against its U.S. counterpart on Thursday, while the New Zealand dollar held steady at a two-week trough as fresh expectations for June rate hike by the Federal Reserve sent the greenback broadly higher.

slid 0.26% to 0.7210, the lowest level since March 2.

The greenback was boosted after indicated that "most" of the central bank's members are ready to raise interest rates as early as June.

The minutes came a day after three central bank officials also mentionned the possibility of upcoming rate hikes.

Dallas Fed President Robert Kaplan said Tuesday he will push for an interest-rate hike at the Fed's upcoming policy meetings.

Meanwhile, Atlanta Fed President Dennis Lockhart said he still assumes there will be two to three rate hikes before the end of this year.

San Francisco Fed President John Williams, in a joint appearance with Lockhart, echoed the remarks, saying two to three interest rate hikes this year "seems reasonable".

In Australia, data earlier showed that increased by 10,800 in April, confounding expectations for a 12,500 rise. The number of employed people increased by 25,700 in March, whose figure was revised from a previously estimated gain of 26,100.

Australia's remained unchanged at 5.7% in April, compared to expectations for an uptick to 5.8%.

was little changed at 0.6738, the lowest level since May 10.

The , which measures the greenback's strength against a trade-weighted basket of six major currencies, was steady at 95.21, the highest since March 29.

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