India, June 19 -- The commodity currencies such as the Australia, New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Thursday, amid escalating trend in the ongoing conflict between Israel and Iran as they continued to attack each other for the seventh consecutive day, with speculation of the U.S. joining Israel in striking Iranian nuclear sites.
The U.S. Fed also announced its widely expected decision to leave interest rates unchanged. Fed officials still seem to expect to two interest rate cuts this year.
U.S. participation could escalate the crisis by increasing the chances of Iran's allies joining the war and prolong the conflict thus impacting the global financial and commodity markets...