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Australia, New Zealand dollars recoil with commodities as Fed hike looms

The Australian and New Zealand dollars slipped on Monday as hints of progress in Russian-Ukraine talks saw global commodity prices come off the boil, while US dollar looks forward to rate hikes

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The kiwi dollar fell back to $0.6780, after topping out at $0.6875 on Friday.

3 min read Last Updated : Mar 14 2022 | 12:19 PM IST

The Australian and New Zealand dollars slipped on Monday as hints of progress in Russian-Ukraine talks saw global commodity prices come off the boil, while the U.S. dollar looked forward to the start of an extended cycle of rate hikes this week.

The Aussie was back at $0.7253, having fallen 0.9% last Friday and away from resistance at $0.7368. The retreat under the 200-day moving average of $0.7312 could put pressure on support at $0.7245.

The kiwi dollar fell back to $0.6780, after topping out at $0.6875 on Friday. The break under $0.6800 was bearish for a move to $0.6740.

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Topics : Dollar US Dollar

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