The dollars of Australia and New Zealand lost value against the majority of their rivals on Thursday, as conjecture continued about the prospect of the U.S. Federal Reserve furthering its plans to taper economy-spurring stimulus measures, according to Bloomberg.
The Aussie endured losses for the fourth-straight day, which touches its lengthiest bearish trend this month thus far. The kiwi dropped value in the aftermath of the U.S. Federal Reserve stating on Wednesday that it will reduce stimulus by $10 billion.
"The question now is how much of the Fed taper is priced in" with the Aussie at about 88 U.S. cents, states a Thursday research note authored by chief economist Michael Blythe with Commonwealth Bank of Australia in Sydney, according to Bloomberg. "We suspect that much of the adjustment is already in place."
The Australian dollar dropped roughly 0.2 percent against the world's reserve currency and the kiwi sank about 0.6 percent against the greenback.
The Aussie has been under the duress of the central bank of Australia exerting effort to keep its value low, and that pressure was augmented by the Fed opting to taper stimulus, according to Reuters.
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