The Australian dollar held firm on Friday, defying Middle East tensions and high oil prices to reach a decade high on its New Zealand counterpart as pressure grew for a cut in interest rates there. The Aussie dollar climbed to $1.0131 from $1.0088 in New York. It was flat for the week, but well above a low of $0.9963. Resistance is seen at $1.0158, while support is seen around parity.
Further gains may be tough though, with traders saying there was selling interest at the session high. Against the kiwi dollar, the Aussie leaped to a 10-year peak of NZ$1.3509, up two cents on the week, on diverging outlooks for interest rates. It was last at NZ$1.3480. Meanwhile, the New Zealand dollar rose to $0.7509, from $0.7477 in New York, after the country's central bank denied it was holding an emergency policy meeting in the wake of the earthquake in Christchurch.
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