The Australian and New Zealand dollars stayed on the backfoot on Friday as the appetite for risk faded due to hightened Middle East tensions, and could face further pressure if China's inflation and production data disappoint. The Australian dollar did edge up to $1.0018 from a two-week low of $0.9991 overnight, but remains over a cent down for the week. Aussie is the worst performing currency this week with a 1.4 percent loss. Support seen at $0.9966 and $0.9944 with $1.0054 to cap the topside.
The New Zealand dollar fared slightly better at $0.7351, having bounced from a five-and-a-half month low of $0.7322 overnight. Support seen at $0.7320 and below that $0.7306, with $0.7380 the first hurdle higher. The kiwi, which has lost 0.8 percent this week, is showing some resilience given that the Reserve Bank of NZ's slashed its benchmark rate by 50 basis points.
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