Daily Morning Report 14.06.2017

The Australian and New Zealand dollars moved higher against their U.S. counterpart on Wednesday, as sentiment on the greenback remained vulnerable ahead of the Federal Reserve’s policy decision due later in the day.

AUDUSD rose 0.23% to 0.7554.

Later Wednesday, the Fed was widely expected to raise interest rates by 25 basis points from 1.00% to 1.25%.

Market participants were especially awaiting Fed Chair Janet Yellen’s comments following the decision for indications on the future pace of rate hikes.

NZDUSD added 0.19% to trade at 0.7235, the highest since February 28.

Earlier in the day, Statistics New Zealand reported that the current account swung into a surplus of NZ$0.24 billion in the first quarter from a deficit of NZ$2.34 billion. Analysts had expected the trade account to hit a surplus of NZ$0.92 billion.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.10% at 96.87, the lowest since June 8.