Investing.com - The Australian dollar held steady against its U.S. counterpart on Monday, while the New Zealand dollar edged higher as sentiment on the greenback remained fragile ahead of the Federal Reserve’s policy meeting this week.
Markets in Australia and New Zealand were closed on Monday for national holidays.
AUD/USD was little changed at 0.7710.
The commodity currencies came under some pressure as oil prices moved lower on Monday, after hovering near five-month highs on Friday.
NZD/USD edged up 0.18% to trade ar 0.6864.
Sentiment on the greenback was vulnerable as traders awaited the Fed’s upcoming policy meeting, due to conclude on Wednesday for further indications on the pace and timing of future rate hikes.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.18% at 94.94, off Friday’s one-week high of 95.18.