Australia, NZ dollars slip

SYDNEY: The Australian and New Zealand dollars slipped on Monday, guided lower by yuan weakness amid increasing deflationary pressure in China, while traders await a week packed with central bank meetings to keep buying into their interest rate-cut hope.

The Aussie slipped 0.3% to $0.6556, having fallen 1.5% last week in the first decline in four weeks. It eased 0.4% on Friday as an upbeat US payrolls report saw investors scale back expectations for a March cut by the Federal Reserve, supporting the US dollar.

Resistance is now at $0.6620 while support is $0.6526.

The kiwi was off 0.1% at $0.6113 after a weekly drop of 1.4% to snap a three-week winning streak. It fell 0.8% on Friday, with support at $0.6104.