Aussie, Kiwi Higher Vs. Greenback Amid U.S. Political Jitters

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Includes: CROC, FXA, NZDS, UDN, USDU, UUP
by: Investing.com

The Australian and New Zealand dollars moved higher against their U.S. counterpart on Wednesday, amid fresh political jitters in the U.S., although expectations for a June rate hike by the Federal Reserve still lent support to the greenback.

AUD/USD rose 0.22% to 0.7358, off the previous session's four-month low of 0.7326.

U.S. President Donald Trump abruptly fired FBI Director James Comey. Comey had been leading his agency's investigation into alleged Russian meddling in the 2016 U.S. presidential campaign and a possible collusion with Trump's campaign.

NZD/USD edged up 0.16% to trade at 0.6906

But sentiment on the greenback remained positive after Kansas City Fed President Esther George said on Tuesday that the U.S. central bank should keep gradually raising short-term interest rates despite the recent slowdown in GDP and car sales.

The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, fell 0.14% to 99.30 after hitting a two-week high of 99.56 on Tuesday.

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