Australian held near 29-year peak

The Australian dollar held near a 29-year peak against the greenback on Monday, but struggled to make further headway after hawkish comments from several Federal Reserve officials helped underpin the US currency. The Aussie rose, however, against the Japanese yen to reach a key resistance level that could pave the way for more gains if breached.
It peaked at $1.0294 against the greenback on Friday, and last stood at $1.0258, little changed from late New York levels. Talk of a barrier at $1.03 appeared to be capping the currency for now, traders said. Against the yen, the Aussie rose towards 84, nearing a 200-week moving average, a level that has capped the currency pair since September 2008. Against the New Zealand dollar, the Aussie was also firmer at NZ$1.3654, not far from a 19-year peak of NZ$1.3794 hit on March 7. The kiwi hovered around $0.7508 versus the greenback.