The Australian dollar hit a fresh 26-year high against a broadly weaker sterling on Friday, while the New Zealand dollar held near a 30-year peak on the greenback as risk appetite improved after upbeat US private-sector employment data. The Aussie dollar last stood at $1.0771 versus $1.0770 late in New York, holding in a very slim $1.0758/76 range so far. Support is seen at $1.0680, with the next hurdle being option-related offers around $1.0800 and stops at $1.0810.
For the week, it was little changed, consolidating last week's 2.8 percent rally - its best performance since March. Against sterling, the Aussie touched a fresh 26-year high around A$1.4780 per pound after the Bank of England left rates at a record low on Thursday and was seen on hold for the rest of the year due to the weak UK economy. Meanwhile, the NZ dollar was last at $0.8318, having hit a 30-year high of $0.8344, when it pushed through stop-loss levels. On the week, the kiwi was up 0.4 percent, adding to last week's 2.5 percent rally.
Comments
Comments are closed for this article.