SUDNEY: The Australian dollar held overnight gains on Tuesday, helped by higher iron ore prices and carry demand against the yen, while the kiwi hit a two-week high ahead of the Reserve Bank of New Zealand’s policy meeting this week.

The Aussie was steady at $0.6608, after gaining 0.4% overnight to close above the 66 cent level for the first time in four weeks. Prices for iron ore, the biggest Australian export, jumped 5%, extending Monday’s gains of over 3% and helping sustain a bullish bias for the currency.

It faces resistance at last week’s high of $0.6619 and March’s high of $0.6667.