Daily Morning Report 28.06.2017

The Australian and New Zealand dollars moved higher against their U.S. counterpart on Wednesday, as a delay on the U.S. healthcare vote weighed heavily on the greenback.

AUD/USD gained 0.37% to 0.7612.

The greenback weakened after U.S. Senate Republicans postponed a vote on the Trump administration’s healthcare bill on Tuesday, as they faced resistance from party members.

Investors are concerned that the administration will not be able to implement tax cuts and fiscal stimulus steps, without first getting the healthcare bill passed.

NZD/USD rose 0.26% to trade at 0.7289, after hitting a four-month high of 0.7344 on Tuesday.

In a highly-anticipated speech on Tuesday, Federal Reserve Chair Janet Yellen said that banks are “very much stronger” and another financial crisis is unlikely anytime soon.

Ms. Yellen added that the Fed learned lessons from the financial crisis and is being more vigilant to find risks to the system.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.24% at an eight-month low of 95.95.