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Australian, NZ Dollars Advance As Fed Meeting Looms

Australian, NZ Dollars Advance As Fed Meeting Looms CANBERA (dpa-AFX) - The Australian and NZ dollars climbed against their major counterparts in the Asian session on Monday, as risk sentiment improved ahead of the U.S. Federal Reserve s policy meeting amid hopes that easy monetary conditions will continue for an extended period. The Fed is expected to maintain its record low rate and the asset purchase program when it meets later this week. Investors are pinning hopes that the Fed will reiterate its commitment to ultra-loose policy despite rising inflation. Leaders of G7 nations vowed to continue their massive economic support programmes for as long as is necessary in order to avoid the economic damage caused by an early withdrawal of stimulus.

New Zealand Services Index Slips To 56 1 In May - BusinessNZ

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