The U.S. dollar continued its upside movement against the Japanese yen and closed Wednesday session with an incline, traded near a six-month high at 85.43, as the expectations noted that the Feds will increase the interest rates during the next Bank's board meeting.
On the other hand, the FOMC minutes said the stronger recovery in US is strengthening and gaining traction, which pushed the investors to prefer buying the dollar over the yen.
The USD/JPY pair rose on Wednesday session and ended the session near its highest level at 85.43, while the momentum indicators show the pair in an overbought area.
The Australian has broken all expectations, where the Aussie gained to the highest level against its US counterpart, recorded a new several years high since it began trading freely in 1983 at 1.0436, as traders crowed back into carry trades, in which low-yielding, cheap yen are sold in favor of currencies in countries with higher interest rates or other higher-yielding assets.
The pair closed Tuesday session at its highest level 1.0436 after recorded a low of 1.0324. On the other hand, the daily indicators start to give selling signs, while the four hours momentum indicators show the pair in an overbought area.
The New Zealand dollar reached to the highest level in 8 weeks against the US dollar, after the investors returned to carry trades to the markets, pushing traders to buy high yielding currencies.
The NZD/USD pair increased during yesterday's trading session and ended the session at 0.7782, after recorded a high of 0.7805 and a low of 0.7679.