The Australian dollar climbed to a fresh 29-year high on the US dollar on Thursday for the fifth day in six, while the Zealand dollar firmed as investors piled into riskier assets and carry trades. Australian dollar peaked at $1.0348, from $1.0327 in New York, helped by slightly firmer-than-expected retail sales and credit growth data. It edged back to $1.0337 with some talk of an option barrier at $1.0350.
Aussie has now gained more than 6 percent from its low of $0.9732 on March 17. Seen well supported above $1.0289, with the first psychological barrier at $1.0400, then $1.0500. Aussie up at 85.71 yen, after hitting a 10-month high of 85.99 earlier, having gained nearly 15 percent since the G7 intervened to weaken the yen on March 17.
The New Zealand dollar hovers around $0.7615, just off a five-week high of $0.7638 struck on Wednesday. The kiwi also stronger on the yen to touch a five-week high of 63.38 yen, a long way from this month's low around 55.00. It last traded at 63.14. Aussie tracking lower against the kiwi, drifting from close to NZ$1.36 to NZ$1.3560.
Comments
Comments are closed for this article.