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Australia, NZ dollars on track for biggest weekly jump in four months
The Australian and New Zealand dollars were headed for their firmest week in four months on Friday, buoyed by growing market conviction that US interest rates have finally peaked, while bonds rallied from 12-year lows. The Aussie is holding at $0.6434, having climbed 0.6% overnight to a five-week high of $0.6456. It is set to have gained 1.5% this week, taking it well away from last month’s one-year low of $0.6271. Resistance, however, is heavy at $0.6445. The kiwi dollar is buoyant at $0.5894, after a 0.8% increase overnight to $0.5916, the highest in more than two weeks. It is also headed for a 1.5% weekly jump, ... (full story)