The Australian and New Zealand dollars loitered near multi-month lows on Friday, poised for their worst weekly losses since last September, as the export-led currencies bore the brunt of selling over the spreading China virus. The Australian dollar, often traded as a liquid proxy for the Chinese yuan, dived 1.5% this week to be on track for its fifth straight weekly loss. It was last flat at $0.6722, within striking distance of October's low of $0.6670.
For the month as a whole, the Aussie has lost 4.2% of its value, its worst performance since May 2016. The kiwi fell 1.8% this week and was set for its worst weekly showing since late September. It was last off 0.1% at $0.6567.
For the month, the kiwi is now down 3.6%, the biggest decline since last August. New Zealand government bonds inched lower, sending yields about 1.5 basis points higher across the curve. Australian government bond futures were a shade stronger, with the three-year bond contract up half a tick to 99.385 and 10-year contract rising by 1 tick to 99.030.
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