SYDNEY/WELLINGTON: The Australian and New Zealand dollars were poised for another week of gains on Friday, led by strength in commodity prices with iron ore rallying more than 30% in the past month and copper at decade highs.
The Australian dollar was last at $0.7774 with the next chart resistance seen at $0.7820. The Aussie is so far up 0.4% for the week, on track for its fourth straight weekly gain. It jumped 2.4% in April alone.
The New Zealand dollar was at $0.7247, not too far from a two-month high of $0.7286 reached on Thursday. The kiwi is up 0.7% so far this week.
New Zealand government bonds were sold off, sending yields about 3-4 basis points higher.
Australian government bond futures slipped with the three-year bond contract off 1 tick at 99.73. The 10-year contract fell 3.5 ticks to 98.295.