The Australian and New Zealand dollars held up on Thursday, helped by high commodity prices and the usual talk of buying by Asian central banks recycling US dollars amassed in intervention. Late Thursday, the Australian currency held at $1.0033, up from Wednesday's low of $0.9959 as persistent bids catching many in the market short.
Key support was put at $0.9923, its 100-day moving average, with resistance at $1.0058. It was near a nine-month highs on the yen around 83.84 as investors are attracted to Australia's high yields. The NZ dollar uchanged at $0.7551, after holding a razor-thin range between $0.7540 and $0.7560. The kiwi seems well hemmed in by the support at Wednesday's two-month low of $0.75 and resistance just below $0.76 The kiwi is struggling to make headway despite a weaker greenback as a poor domestic economic outlook.
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