Forex
Aussie and Kiwi Dollars Slump on US Interest Rate Hike Bets
The Australian and New Zealand dollars both fell on Thursday as investors bet on more interest rate hikes in the US.
The greenback strengthened after the Federal Reserve raised rates by 25 basis points, as expected, and projected at least one more increase by December. Futures now imply a roughly 50% chance of another hike in October and are fully priced for a move by year-end.
The Aussie slipped to $0.7096, a three-week low, after the Fed's decision, while the kiwi dollar steadied at $0.5720 but is near a 10-week low.