Commodity-dependent currencies fell to multi-week lows on Wednesday as lower raw material prices and a sharp sell-off against the yen helped propel the Japanese currency to a two-month high.
The Australian dollar fell 0.5 percent to $0.6686. Against the yen, the Australian currency fell more than 1 percent to 101.79 yen, bringing the Australian dollar’s losses to nearly 7 percent in two weeks.
The New Zealand dollar fell 0.6 percent to a near three-month low of $0.5914, while the Canadian dollar hit a three-month low of $1.38 to the dollar.
The dollar fell nearly 1 percent against the yen on Tuesday and fell another 0.6 percent in Asian trading on Tuesday to its lowest since mid-May at 155.36 yen.
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