SYDNEY: The Australian and New Zealand dollars were looking to seal another week of gains on Friday as upbeat surveys of global service sectors supported risk sentiment, though both had stalled at key chart barriers.
The Aussie steadied at $0.6712, having drifted away from its recent $0.6760 top. That left it 0.7% firmer for the week, which would be its third straight week of increases. A break of $0.6783 would open the way to $0.6871.
The kiwi dollar stood at $0.6145, having climbed 1.5% for the week to as high as $0.6178. This would be its fourth week of gains, with the next target at $0.6222.
The US dollar had bounced overnight as investors squared some short positions ahead of Federal Reserve Chair Jerome Powell’s Jackson Hole speech.
Markets assume he will confirm that an easing cycle is likely to start in September, which is already priced in, but might suggest a cut of 25 basis points is more likely than an outsized 50 basis points.
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