Australian and New Zealand dollars hug record highs

The Australian and New Zealand dollars held near lifetime highs against the euro on Thursday, as well as multi-months peaks on sterling and the Swiss franc, ahead of a Spanish bond auction seen as a key test of confidence. The euro continued to struggle and last stood within a hair of a trough of NZ$1.5917 and A$1.2306 struck overnight.
Dealers, however, are cautious the selloff has gone too far. Against the kiwi, the UK currency dropped to around NZ$1.9194, a level not seen since September. The Aussie peaked to 0.9846 francs, while the kiwi jumped to 0.7616. Against the US dollar, the Aussie clung to recent gains at $1.0303, from $1.0305 in New York.