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Australia, NZ dollars lean on yield support amid market tremors
The Australian and New Zealand dollars clung to support on Friday as a selloff across global stock and metals markets undermined risk sentiment, with a positive yield premium providing a much needed prop. The Aussie was a shade firmer at $0.6934, having slipped 1.0% overnight. The pullback took the Aussie away from the recent three-year top of $0.7094, while a break under $0.6900 would risk a retreat to $0.6766. The kiwi dollar held at $0.5952, after losing 0.9% the previous session. That brought losses for the week to 1.1% and left the kiwi well short of its recent peak at $0.60925. The setback erased Aussie gains ... (full story)
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