Aussie, kiwi recover

SYDNEY: The Australian and New Zealand dollars recovered against the greenback on Monday after riskier currencies plunged late last week amid a global bond market sell-off.

The Aussie dollar was 0.69% higher at $0.7759, but still well bellow a three-year high of $0.8007 hit on Feb. 25. The Kiwi dollar was 0.66% higher at $0.7273 but off the $0.7464 level also hit on Feb. 25, which was its highest since August 2017.

Australian debt, tracking a sell-off in global bond markets last week, also rebounded from some of the biggest price declines in years seen on Friday. Yields on 10-year Australian bonds eased 11 basis points to 1.64% after hitting 1.97% on Friday, the highest since May 2019 and up from under 1% in early January.