Australian slips, New Zealand dollar outperforms

The Australian dollar slipped on Monday after disappointing data bolstered the case for the central bank to stay on the sidelines for longer, while a general rise in risk appetite helped lift the New Zealand currency. The Aussie dollar shed nearly half a cent to around $1.0722 after data showed retail sales fell 0.6 pct in May, against expectations for a 0.3 percent increase.
The Aussie last stood at $1.0714, having dipped to a session low around $1.0712. Risk sentiment was also hit by a warning from Standard & Poor's that some debt rollover plans for Greece would put it in selective default. Still, it has retained most of last week's 2.8 percent gain. Immediate support is seen at $1.0668, the June 30 low, with resistance near $1.0800. The Aussie also fell against the yen and slid about 0.5 percent on the kiwi. It last stood around NZ$1.2931. The New Zealand dollar traded around $0.8281, poised for a likely assault on last week's 26-year, post-float high of $0.8320. The high forms the first topside barrier for the kiwi.