The Australian and New Zealand dollars regained early losses on Monday as risk aversion over the unrest in Egypt was countered by renewed gains in commodities and a bounce in some Asian stock markets. The Aussie dollar edged up to $$0.9924 on Monday, recovering from a morning sell-off that took the currency down to $0.9864 but still short of last week's highs around parity.
The New Zealand dollar was around $0.7716 in late trade, recouping from an earlier low of $0.7687, helped by the Aussie and firmer stock market futures. Support for the kiwi was still seen at $0.7660 and $0.7642, with $0.7737, the January 28 hourly high, seen as the first line of resistance.
The Aussie hovered around NZ$1.2852 against the kiwi and has now given up all of its December gains which saw it as high as NZ$1.3505 at one stage. Both currencies lost ground against the yen on risk aversion. The Aussie had shed one yen to 81.45 yen since Friday.
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