Australian and New Zealand dollar higher against weaker U.S. dollar

Dollar index

The Australian and New Zealand dollar were higher on Thursday, as sentiment on the U.S. dollar was still pessimistic amid U.S. political turmoil and after upbeat New Zealand business confidence data.

The Australian dollar went up 0.33 percent to 0.7644, the highest since March 30.

The greenback was still under pressure after U.S. Senate Republicans delayed a vote on the healthcare bill by the Trump administration on Tuesday, as they faced resistance from party members.

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

Meanwhile, market participants were looking ahead to reports on U.S. first-quarter growth and unemployment claims due later in the day, for further hints on the strength of the economy.

The New Zealand dollar gained 0.12 percent against the greenback to trade at 0.7314, close to Tuesday’s four-month peak of 0.7344.

Data earlier showed that New Zealand’s ANZ Business Conference index rose to 24.8 in June from last month’s 14.9.

The U.S. dollar index, which gauges the U.S. currency against a basket of six major peers, dropped 0.21 percent at a new eight-month low of 95.58.

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