The Australian and New Zealand dollars drifted lower against a broadly firmer greenback on Monday amid renewed caution after euro zone finance ministers delayed a decision on the next tranche of emergency loans for Greece. Weakness in commodity prices and Asian stocks further weighed on the Aussie and kiwi dollars, forcing both currencies to unwind most of Friday's gains.
The Australian dollar slipped to $1.0550, down more than half a cent from late New York levels on Friday. Initial support is seen at last week's trough around $1.0478. The Aussie also slipped on the euro and Japanese yen. Against the kiwi, it was little changed at NZ$1.3078, taking a breather after last week's 1.8 percent jump. The New Zealand dollar eased to $0.8064, from the day's high of $0.8120. Support for the currency is now seen around $0.8040, while resistance starts at $0.8200.
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