A$, C$ inch lower ahead of Fed statement

London

MAJOR currencies that are closely linked to commodities prices were back on the defensive on Wednesday as oil prices fell again and traders awaited the outcome later in the day of a US Federal Reserve meeting.

The New Zealand dollar was again the marginal exception to that rule, resisting more losses after its central bank governor played down the chances of further deep cuts to interest rates.

But even with a more encouraging tone on China's stock markets limiting the damage, the…