Kiwi plumbs two-week trough

The New Zealand dollar fell against its American rival on Wednesday, hitting a two-week low and registering a third daily loss in a row, as the greenback steamed higher versus major currencies. 

NZD/USD fell to a session-low at 0.6575 from the opening level of 0.6611, with a high at 0.6624, while last trading at 0.6599. 

Kiwi's losses come as the dollar flexed its muscles against its rivals, bashing the New Zealand currency this week, especially as investors expect more stimulus from the local central bank.

On the other hand, the greenback is enjoying a rise today against peers after positive U.S. inflation data that brightened the outlook for prices in the American economy. 

Markets await the Fed's decisions today on interest rates and monetary policy, in addition to the press conference that'll be held by the bank chief Janet Yellen to express her outlook for the American economy. 

The dollar index, measuring the currency's strength versus six major peers, rose to a session-high at 97.06 from the opening level of 96.64, with a low at 96.61, while last trading at 96.91.