Investing.com - The Australian and New Zealand dollars moved higher against their U.S. counterpart on Tuesday, but gains were expected to remain limited as the greenback continued to recover from the Federal Reserve’s latest policy decision.
AUD/USD advanced 0.42% to 0.7667, the highest since September 22.
The greenback continued to trim losses posted after the Fed decided to leave interest rates unchanged at the conclusion of its policy meeting last Wednesday. The central bank also hinted that a hike could come in December if the job market continued to improve.
Meanwhile, concerns related to the highly-anticipated US Presidential debate scheduled late Monday eased as analysts considered that nominee Hillary Clinton did better than her rival Donald Trump.
NZD/USD rose 0.32% to trade at 0.7298, the highest since September 23.
The commodity currencies’ gains were limited by uncertainty surrounding this week’s meeting of major oil producers to discuss ways to support the market.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 95.28.