AGL 40.03 Increased By ▲ 0.02 (0.05%)
AIRLINK 129.31 Increased By ▲ 2.31 (1.82%)
BOP 6.80 Increased By ▲ 0.11 (1.64%)
CNERGY 4.64 Increased By ▲ 0.13 (2.88%)
DCL 8.63 Decreased By ▼ -0.01 (-0.12%)
DFML 40.95 Decreased By ▼ -0.09 (-0.22%)
DGKC 85.74 Increased By ▲ 0.13 (0.15%)
FCCL 33.00 Decreased By ▼ -0.11 (-0.33%)
FFBL 66.53 Increased By ▲ 0.43 (0.65%)
FFL 11.46 Decreased By ▼ -0.09 (-0.78%)
HUBC 110.58 Decreased By ▼ -0.53 (-0.48%)
HUMNL 14.63 Decreased By ▼ -0.19 (-1.28%)
KEL 5.24 Increased By ▲ 0.07 (1.35%)
KOSM 8.11 Increased By ▲ 0.45 (5.87%)
MLCF 40.07 Decreased By ▼ -0.14 (-0.35%)
NBP 60.51 No Change ▼ 0.00 (0%)
OGDC 195.47 Increased By ▲ 1.37 (0.71%)
PAEL 27.10 Increased By ▲ 0.38 (1.42%)
PIBTL 7.64 Increased By ▲ 0.27 (3.66%)
PPL 155.82 Increased By ▲ 2.03 (1.32%)
PRL 27.37 Increased By ▲ 1.16 (4.43%)
PTC 18.56 Increased By ▲ 1.38 (8.03%)
SEARL 85.10 Decreased By ▼ -0.50 (-0.58%)
TELE 7.90 Increased By ▲ 0.33 (4.36%)
TOMCL 34.88 Increased By ▲ 0.49 (1.42%)
TPLP 9.22 Increased By ▲ 0.40 (4.54%)
TREET 16.81 Decreased By ▼ -0.01 (-0.06%)
TRG 62.86 Increased By ▲ 0.31 (0.5%)
UNITY 27.75 Increased By ▲ 0.46 (1.69%)
WTL 1.30 No Change ▼ 0.00 (0%)
BR100 10,184 Increased By 72.7 (0.72%)
BR30 31,403 Increased By 215 (0.69%)
KSE100 95,857 Increased By 861 (0.91%)
KSE30 29,683 Increased By 201.6 (0.68%)

The Australian and New Zealand dollars slumped to multi-week lows on Monday as investors rushed to safe-haven assets like the Swiss franc and gold, ignoring efforts by global policymakers to stabilise markets and restore confidence. The Aussie slumped to a four-month trough of $1.0314, from $1.0458 in New York on Friday, having cracked major support at $1.0375. The currency, down 1.2 percent on the day, gave in to heavy losses in Asian stocks and commodities.
Indeed, share markets across Asia sank between 2 and 5 percent, while metal prices and oil also fell sharply. The Australian dollar was also at multi-month lows against a range of currencies. It hit a 4-fourth month trough of 80.35 yen and a two-year low of 78.03 francs.
The Aussie, however, outperformed its neighbour at NZ$1.2455, edging up from a one-year low around NZ$1.2331 plumbed Friday. Across the Tasman sea, the kiwi fell to a near one-month low of $0.8262, from $0.8430 in New York on Friday, taking losses for the past week to around five cents as markets slashed rate hike bets. It was last at $0.8290, with support seen at $0.8205 and resistance around $0.8435. The kiwi also lost more ground to the Japanese yen, with the kiwi sliding to a near one-month low of 64.65 yen.

Copyright Reuters, 2011

Comments

Comments are closed.