Australia, NZ dollar try for firmer finish to soggy week

SYDNEY: The Australian and New Zealand dollars were looking to end a soft week on a firmer note on Friday as rapid progress on coronavirus vaccinations domestically augured well for an economic rebound in coming months.

The market mood was helped by news that U.S. President Joe Biden had a wide-ranging call with his Chinese counterpart Xi Jinping on Thursday, offering hope for some thawing in relations between the super powers.

The Aussie edged up 0.2% to $0.7384 on the news, having again found support around $0.7345. It was still down 0.9% on the week, but well above key support at $0.7290 and the recent 10-month trough of $0.7107. The kiwi dollar was off only 0.4% for the week at $0.7118 , after drawing solid bids around $0.7076. That kept it within striking distance of the recent three-month top of $0.7170, and well above the August trough at $0.6810.