The Australian dollar held firm while the New Zealand dollar climbed to a three-day high against the greenback on Wednesday, helped by a bounce in equities and commodities. The Aussie was last at $1.0635 compared with $1.0624 late in New York, having clawed off a one-month low of $1.0505 offshore.
Earlier in the day, the local dollar slipped to a session low of $1.0607 after data showed slower-than-expected wage growth in the March quarter, which further reduced the case for a June rate hike. The kiwi was largely unmoved by a trickle of data, which showed a 1.1 pct fall in dairy prices in Fonterra's latest, and a slight improvement in consumer sentiment.
The kiwi outperformed the neighbouring Aussie with the cross rate last at NZ$1.3482 from a session high of NZ$1.3552. Last week it plumbed a two-week low of NZ$1.3341 after soft Australian job report. The single currency, which has been slowly recovering from a four-month low of $1.3320 last week was last at around A$1.3400. Against the kiwi, it held at NZ$1.8084, well above a three-month low of NZ$1.7828 struck last week.-
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