Daily Morning Report 24/11/2014

The New Zealand dollar edged higher against its U.S. counterpart on Tuesday, but gains were expected to remain limited as demand for the greenback remained broadly supported by hopes for an upcoming U.S. rate hike.

The Australian dollar rose against its U.S. counterpart on Tuesday, approaching one-month highs as investors locked in profits from the greenback’s recent rally ahead of the Thanksgiving holiday on Thursday.

The greenback has remained broadly supported in recent weeks by expectations that the Federal Reserve is on track to raise interest rates next month.

New York Fed President William Dudley said Friday that there is a “strong case” for hiking rates at the central bank’s next meeting in December as long as economic data continues to remain solid.