Futures Market News
Aussie, Kiwi fall against dollar
Mar 14, 2012 09:45 AM
The dollars of Australia and New Zealand lost value to the U.S. dollar on Wednesday in the aftermath of U.S. Federal Reserve policy makers opting against an additional round of monetary easing, stating the pace of the U.S. economy's development is sufficient, Bloomberg reports.
But the Federal Open Market Committee did not rule out the possibility of a third round of asset purchases when it convened on Thursday. The Aussie also fell in value against the Japanese yen, slipping from its highest value since May of last year.
"You're seeing better U.S. data relative to weak data elsewhere," foreign-exchange research global head Callum Henderson with Standard Chartered told Bloomberg. "That's limiting the upsides in Aussie and kiwi and weighing on them to some extent."
Dow Jones Newswires reports the fourth quarter of last year saw housing construction starts fall 6.9 percent in Australia, which also proved to be detrimental to the Aussie.
The housing sector in the U.S. also is of concern to the FOMC, which released a statement after its Tuesday meeting.
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