SYDNEY/WELLINGTON: The Australian and New Zealand dollars flatlined on Thursday after another spike in global bond yields spooked investors away from riskier assets, though sentiment was aided by data showing a record Australian trade surplus.
The Aussie stood at $0.7785, having fallen from $0.7839 overnight when a jump in US Treasury yields knocked equities lower. Importantly, it managed to stay clear of major support around $0.7693, keeping the recent uptrend alive.
The kiwi dollar was holding at $0.7251, after also easing from a $0.7302 top overnight. It has solid support around $0.7210.
Cash three-year yields were restrained at 0.14% as the Reserve Bank of Australia (RBA) maintained its 0.1% target. Yet futures sank 6 ticks to 99.645, implying an yield of 0.355%.—Reuters
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