A slight correction in the world financial markets may improve today's value of the Australian and New Zealand dollars and break off from the sluggish trading now lasting for three weeks.

The negative sentiments in the global markets dragged the value of the Aussie and the Kiwi in the last three weeks, but analysts said the dive is not as bad compared to other currencies.

The lack of good news from the economies of the U.S. and China has dragged down market sentiments prompting investors to sell riskier assets yesterday.

The Australian dollar dropped 2.2 percent, the most since June 4, to 85.31 U.S. cents as of 11:47 a.m. in New York, from 87.22 yesterday.

The kiwi, on the other hand, slid to its lowest at 1.9 percent to 69.47 U.S. cents, near a three-week low after a New Zealand government report showed home-building approvals dropped for the second time in three months. The Kiwi's value was further compounded by the slowdown in Japan's industrial production.