NZ Dollar Climbs On U.S. Stimulus Hopes The NZ dollar appreciated against its major counterparts in the Asian session on Wednesday, as optimism about a U.S. stimulus package and progress in the Covid vaccine rollout lifted risk sentiment.
House Speaker Nancy Pelosi held discussions with Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer and House Minority Leader Kevin McCarthy on Tuesday to break the impasse on the coronavirus relief package.
After the meeting, McConnell struck an upbeat tone, saying that significant progress has been made on talks over the aid package.
Congressional leaders are planning to reach a deal before the end of the year.
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The Australian and New Zealand Dollars finished higher last week with both currencies supported by increased demand for higher risk assets on the back of rising optimism tied to the start of vaccinations in the U.K. and the looming start in the United States. Both currencies also garnered support for their respective country’s stellar response to the COVID-19 pandemic.
Last week, the AUD/USD settled at .7535, up 0.0107 or 1.44% and the NZD/USD finished at .7089, up 0.0050 or +0.71%.
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Helping to cap gains, however, were concerns over Brexit and the impasse in the U.S. Congress over a fresh round of coronavirus-stimulus.
The One Nation leader wants the government to blacklist Chinese companies until the communist government sits down for talks with Australia and stops blocking exports.