SYDNEY: The Australian and New Zealand dollars eased off highs on Friday but were on track for solid weekly takings as global risk appetite was bolstered by the promise of easy monetary policy settings by the US Federal Reserve.
The Australian dollar, a liquid proxy for risk, was last off 0.2% at $0.7734, within kissing distance of Thursday’s three-week high of $0.7761. The Aussie is facing key chart resistance around $0.7849. For the week, the Aussie is up 1.5% for its second consecutive weekly rise.
The New Zealand dollar was down 0.2% at $0.7157 as it flirted with a 3-1/2 week top of $0.7180 touched on Thursday. New Zealand’s currency has climbed 1.8% this week so far.
New Zealand government bonds rose, sending yields about 3-5 basis points lower.
Australian government bond futures edged up, with the three-year bond contract 1 tick higher at 99.750. The 10-year contract was up 4 ticks at 98.31.
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