The Australian and New Zealand dollars were higher against their U.S. counterpart on Tuesday, after the release of upbeat business confidence data from Australia and as lower expectations for a U.S. rate hike continued to weigh on the greenback.
AUD/USD gained 0.33% to a one-week high of 0.7620.
Earlier Tuesday, the National Australia Bank said its business confidence index rose to 6 in March from a reading of 3 the previous month.
NZD/USD edged up 0.22% to trade at 0.6873, the highest since April 4.
Meanwhile, the greenback remained under pressure on the view that the Federal Reserve will stick to a cautious approach on hiking interest rates this year amid concerns over the outlook for the global economy.
Lower interest rates make the dollar less attractive to yield-seeking investors.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 94.01, close to the previous session’s eight-month low of 93.74.