Australia, NZ dollars steady as skepticism rises regarding Gulf truce
Australian and New Zealand Dollars Hold Steady Amid Uncertainty
On Thursday, both the Australian and New Zealand currencies remained largely unchanged, as renewed skepticism about a sustained ceasefire in the Middle East dampened investor confidence. The New Zealand dollar found some strength, however, thanks to rising expectations of tighter monetary policy domestically.
The Australian dollar hovered at $0.7040, following a nearly 1% surge the previous day that peaked at $0.7084. It faces resistance near $0.7124, while support is seen around $0.6960.
The New Zealand dollar edged up to $0.5831, after climbing 1.6% in the prior session and reaching $0.5859. Resistance is positioned at $0.5891, with support close to $0.5778. The kiwi also recovered some ground as local rate forecasts turned more hawkish.
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