The Australian and New Zealand dollars skidded to multi-month lows on Thursday as the Federal Reserve's outlook for raising rates underlined the diverging path between the United States and most developed economies, pushing the greenback higher. The Australian dollar was at $0.8960, having lost 1.5 percent overnight, its largest daily drop in more than a year. The currency dropped as far as $0.8939, the lowest in six months. It has slumped more than 4 cents in two weeks.
Solid support was found at $0.8916, the March 3 low, but a break could open the way to $0.8660, the 2014 trough. The New Zealand dollar shared a similar fate as its Aussie cousin, having plumbed fresh seven-month lows at $0.8079. It has tumbled around 8 cents since July and a break below $0.8052 would be the weakest level in one year. It was last at $0.8112.