The dollar drifted sideways on Wednesday, giving some relief to the yen and other major currencies after a sharp rally to a seven-week high last week, as investors paused to assess the interest rate outlook for the United States.
The New Zealand dollar slumped to its lowest since Aug. 19 at $0.60705, after the Reserve Bank of New Zealand (RBNZ) cut interest rates by 50 basis points and left the door open to yet more aggressive monetary easing.
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