The Aussie slumped from its three-month peak as the U.S. Federal Reserve prepared to meet on Wednesday. The Kiwi of New Zealand also lost value on Wednesday, marking a dip for the first time in three days after notching its top rate against the greenback since April 2013.
"This is a very tough area to beat for Aussie at the moment, because you've got three different resistance points all coming into play," analyst Desmond Chua with CMC Markets in Singapore told Bloomberg on Wednesday. "Of course this could all be changed with the Fed decision, but I think these levels will be respected for most of the day."
Both the Aussie and the Kiwi marked losses of about 0.2 percent on Wednesday against the U.S. dollar.
Australian regulators have begun investigating whether banks and traders price-rigged global benchmarks on the country's foreign exchange market, according to Reuters. Similar investigations are in operation in Europe and the U.S.
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