AUSTRALIAN AND NEW ZEALAND DOLLARS NEAR MULTI-MONTH HIGHS ON YEN
Date : 27.02.12
The Australian and New Zealand dollars held near multi-month highs versus the yen on Monday, supported by broad weakness in the Japanese currency amid rising oil prices.
The Antipodean currencies could be poised for more gains versus the yen, and maybe the U.S. dollar this week, if the European Central Bank's latest cash injection on Wednesday draws strong demand and eases liquidity constraints in the region.
The Aussie soared as far as 87.41 yen, its highest since early July, before trimming gains to 86.61 yen. The New Zealand dollar rallied to around 68.25 yen, its strongest in nearly seven months. www.goldennifty.com
The Antipodean currencies could be poised for more gains versus the yen, and maybe the U.S. dollar this week, if the European Central Bank's latest cash injection on Wednesday draws strong demand and eases liquidity constraints in the region.
The Aussie soared as far as 87.41 yen, its highest since early July, before trimming gains to 86.61 yen. The New Zealand dollar rallied to around 68.25 yen, its strongest in nearly seven months. www.goldennifty.com
Against the U.S. dollar, the Aussie was little changed at $1.0687, still short of a six-month high of $1.0845 hit earlier this month.
The New Zealand dollar was flat on the day at $0.8350. Many in the market see the possibility the kiwi could push above $0.8429, which would take it to its highest since nearly seven months. www.goldennifty.com
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