The dollars of Australia and New Zealand on Wednesday snapped two days of advances against the world's reserve currency while the policy-making arm of the U.S. Federal Reserve enters its second and final day of meetings, Bloomberg reports.
New Zealand finance minister Bill English said the nation he serves will benefit from a watered-down kiwi. Economic growth in July noted by private-sector economic reports impacted the performance of the Australian dollar.
"We are broadly constructive on the New Zealand dollar," currency strategist Mike Jones at Bank of New Zealand Ltd. in Wellington told the news source on Wednesday, also noting that commodity prices have been strong as of late.
The kiwi edged down 0.1 percent against the greenback on Wednesday while the Australian dollar was moderately changed against the dollar. On Monday and Tuesday, the Australian dollar pushed ahead 1.2 percent against the U.S. dollar.
Since the end of August, the Aussie has climbed more than 3 percent against the U.S. dollar, according to Reuters. Minutes from the early-September policy meeting of the Reserve Bank of Australia showed more neutrality regarding policy matters.
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