Australian and New Zealand dollars under pressure

The Australian and New Zealand dollars stayed under pressure on Friday as the European debt crisis appeared no closer to a resolution, keeping a lid on risk appetite. The Aussie was down 2.4 percent for the week amid fears Italy's debt woes could ultimately lead to a break up of the eurozone and spark global financial chaos. The local currency last stood $1.0160, having struck a one-month low of $1.0051 overnight.
The New Zealand dollar was subdued at $0.7780, having hit a one-month low of $0.7677 overnight.