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Aussie Little Changed, Kiwi Eedges Higher in Late Trade

2017-11-29 15:54:38Basics of Trading
Aussie Little Changed, Kiwi Eedges Higher in Late Trade

The Australian dollar was little changed against its U.S. counterpart on Wednesday, while the New Zealand dollar edged higher as sentiment on the greenback remained vulnerable amid fresh concerns over geopolitical tensions between the U.S. and North Korea.

AUD/USD held steady at 0.7594, just off a one-week low of 0.7584 hit overnight.

Markets were jittery after North Korea said it has successfully tested a new type of intercontinental ballistic missile that can reach the whole of continental United States.

In reponse, President Donald Trump said: "It is a situation that we will handle."

NZD/USD edged up 0.14% to trade at 0.6908, just off the previous session's two-and-a-half week high of 0.6945.

The greenback had regained some footing after data on Tuesday showed that U.S. consumer confidence approached a 17-year high this month.

Investors were also encouraged by the fact that the U.S. Senate Budget Committee approved a President Donald Trump's tax bill. A full Senate vote of the bill could now take place as soon as Thursday.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.14% at 93.07 by 02:15 a.m. ET (06:15 GMT), just off Monday's nine-week lows of 92.43.