SYDNEY: The Australian and New Zealand dollars fell against the greenback on Tuesday, as caution reined in markets ahead of the Federal Reserve’s monetary policy meeting on Wednesday.
The Australian dollar was last down 0.21% at $0.7784, partially offsetting gains of half a cent in the previous day’s session, which were underpinned by near-record high iron ore prices.
The currency faces resistance at $0.7816 it reached last week, but analysts believe it would likely continue to benefit from strong commodity prices in the near future.
The New Zealand dollar fell 0.17% to $0.7224 after gaining almost half a cent on Tuesday to $0.7236, its highest level since March 18.
Australian government yields on 10-year bonds matched that, adding 1 basis point to 1.69% on Tuesday.
New Zealand government bonds fell slightly, sending yields about 1 basis points higher across the curve. Ten-year bond yields were 4 basis points higher at 1.62%.
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