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Australia, NZ dollars flatline but upward momentum builds
The Australian and New Zealand dollars were flat on Friday in a U.S. holiday impacted market, but they were set for a second consecutive weekly gain as bets that U.S. rates have peaked helped build upward momentum. The Aussie was idling at $0.6556, having been mostly rangebound between $0.6540 to $0.6570 overnight. It is up 0.5% for the week, but it still faces resistance at the 200-day moving average of $0.6590. The kiwi dollar eased 0.1% to $0.6045, after rising 0.5% overnight to $0.6065. It is perched near a three-month top of $0.6085, and headed for a 0.9% advance for the week. In New Zealand, the National Party ... (full story)