SINGAPORE - The Australian and New Zealand dollars languished near multi-week lows on Tuesday after China's move to cut several key interest rates, while the dollar was little changed as it awaited fresh impetus.
"The easing coming from the PBOC yesterday is not huge in terms of magnitude, but it does signal that willingness for the PBOC to support the economy alongside the fiscal side, and that probably plays to the view that there will be some tolerance for a little bit of weakness in CNY."In the broader market, currency moves were subdued as traders looked to central bank meetings in the U.S. and Japan next week.Against the yen, the dollar edged 0.14% lower to 156.79.
In cryptocurrencies, bitcoin fell 0.7% to $67,665, retreating from an over one-month top hit in the previous session.