SYDNEY: The Australian and New Zealand dollars edged lower on Friday as softer US economic data weighed on some commodity prices, though both were still holding hefty gains for the week amid hopes for global policy easing.
The Aussie eased a fraction to $0.6464, and further away from a three-month top of $0.6542. That left it 1.6% firmer for the week so far, with chart support now at $0.6450.
The kiwi dollar faded to $0.5953, having been as high as $0.6055 earlier in the week. It was up 1.1% for the week and has support under $0.5950.
A batch of underwhelming US data took the shine off risk sentiment and put pressure on commodities, with oil the notable loser. However, iron ore held near seven-month highs above $130 a tonne and the mineral is Australia’s biggest export earner.
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