SYDNEY: The Australian and New Zealand dollars flatlined on Monday as markets priced in ever more aggressive rate rises in the United States, while economic news from China was too mixed to offer much support.

The Aussie was holding at $0.7210, having slid 0.9% on Friday as U.S. yields hit one-year highs. The failure to hold a two-month top of $0.7314 soured the technical outlook again and risked a pullback to $0.7130.

The kiwi dollar stood at $0.6798, after losing 0.8% on Friday. It also failed to hold a seven-week peak of $0.6890 which put the focus on support at $0.6733.

Data out of China showed coronavirus restrictions badly hurt retail sales in December, though industrial output fared better and the economy overall grew a bit faster than forecast in the fourth quarter.

Beijing responded with a surprise easing in monetary policy which could help support activity in what is Australia’s single biggest export market.

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