The Australian and New Zealand dollars slipped on the US dollar and yen on Tuesday as falling stocks, escalating euro debt woes and a credit warning for US debt sparked a wave of risk aversion. It last traded at $1.0467, from $1.0510 in New York and a high of $1.0572 on Monday. It dipped as far as $1.0454 offshore with investors preoccupied by US and European sovereign debt issues.
Support for the Aussie is seen from $1.0423, with resistance at $1.0520 and $1.0585, its 29-year peak struck on April 8. Similarly to its neighbour, the New Zealand dollar slipped to $0.7845, from $0.7904 in New York. It touched a five-day low of $0.7842 on Monday after softer-than-expected inflation data.