SYDNEY: The Australian and New Zealand dollars started the week with falls against the greenback on Monday, as the prospect of more stimulus for the word’s largest economy and the resulting higher yields drove investors to the US currency. The Aussie was last down 73 basis points at $0.7710 on Monday, the lowest since Jan. 5 and the second consecutive session of losses, following last week’s shift in the US senate.
Across the Tasman Sea, the New Zealand dollar was 57 basis points lower at $0.7197, also a weekly low.
Australian 10-year bond yields were at 1.09%, leaving them 9 basis points higher than a week ago.
Yields on three-year paper was little changed at 0.12%, slightly higher than the Reserve Bank of Australia’s (RBA) target of 0.10%.
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