Commodities currencies retreat on lower commodities prices

Commodities currencies retreated against the U.S. collar on Thursday, with the retreat in commodities after Wednesday’s Fed interest rate hike.

Brent crude extended its losses for a second straight session to $37.25 a barrel from the opening at $37.54.

Gold prices slipped to $1066.37 an ounce after marking a peak of $1078.20 on Wednesday.

As predicted the Federal Reserve raised its interest rates by 25 basis points, recording its first rate increase in nearly a decade.

The Canadian dollar dropped for a second session to 1.3812, compared to the opening at 1.3777.

The Aussie dollar plunged to bottom of 0.7161 versus the green currency, while currently trading around 0.7205.

The New Zealand dollar is currently trading lower around 0.6763, where it ended yesterday’s session on a gain after upbeat economic data.

The New Zealand economy grew 0.9 percent in the third quarter from a revised of 0.3 percent in the previous three months.

The Fed rate hike will be positive for the economy, as it will weaken the currency further, New Zealand finance minister said on Thursday.