AGL 40.00 Decreased By ▼ -0.01 (-0.02%)
AIRLINK 127.00 Decreased By ▼ -0.99 (-0.77%)
BOP 6.68 Increased By ▲ 0.08 (1.21%)
CNERGY 4.49 Decreased By ▼ -0.11 (-2.39%)
DCL 8.60 Increased By ▲ 0.12 (1.42%)
DFML 41.30 Decreased By ▼ -0.18 (-0.43%)
DGKC 86.71 Increased By ▲ 0.13 (0.15%)
FCCL 32.16 Increased By ▲ 0.02 (0.06%)
FFBL 64.70 Decreased By ▼ -0.72 (-1.1%)
FFL 10.29 Increased By ▲ 0.04 (0.39%)
HUBC 109.51 Decreased By ▼ -0.98 (-0.89%)
HUMNL 14.90 Increased By ▲ 0.15 (1.02%)
KEL 5.05 Decreased By ▼ -0.08 (-1.56%)
KOSM 7.40 Increased By ▲ 0.28 (3.93%)
MLCF 41.39 Decreased By ▼ -0.26 (-0.62%)
NBP 60.60 Increased By ▲ 0.51 (0.85%)
OGDC 190.00 Decreased By ▼ -4.69 (-2.41%)
PAEL 27.81 Decreased By ▼ -0.14 (-0.5%)
PIBTL 7.75 Decreased By ▼ -0.25 (-3.13%)
PPL 149.75 Decreased By ▼ -1.42 (-0.94%)
PRL 26.73 Decreased By ▼ -0.15 (-0.56%)
PTC 16.18 Increased By ▲ 0.18 (1.13%)
SEARL 86.02 Increased By ▲ 7.82 (10%)
TELE 7.72 Increased By ▲ 0.33 (4.47%)
TOMCL 35.58 Decreased By ▼ -0.09 (-0.25%)
TPLP 8.14 Increased By ▲ 0.23 (2.91%)
TREET 16.51 Increased By ▲ 0.62 (3.9%)
TRG 53.35 Increased By ▲ 0.59 (1.12%)
UNITY 26.28 Decreased By ▼ -0.27 (-1.02%)
WTL 1.26 Decreased By ▼ -0.01 (-0.79%)
BR100 9,889 Decreased By -31.1 (-0.31%)
BR30 30,611 Decreased By -140.9 (-0.46%)
KSE100 93,355 Increased By 130.9 (0.14%)
KSE30 28,931 Increased By 46 (0.16%)

The Australian and New Zealand dollars slipped for a third straight session on Friday as the escalating war of words over North Korea spooked investors toward safe harbours including the yen and Swiss franc. With stocks and equities falling across Asia and volatility on the rise, funds pared back riskier positions in carry trades which typically favour the higher-yielding Antipodeans.
The Aussie lost 0.4 percent on its US counterpart to stand at $0.7845, bringing its loss for the week so far to 1 percent. It was down 2.6 percent on the week against the Swiss franc and 2.5 percent on the yen. Japan is the world's biggest creditor nation and there is an assumption that investors there will repatriate funds at times of crisis.
"Risk aversion has picked up though many will argue that we have heard it all before," said Sean Callow, a senior currency strategist at Westpac. The New Zealand dollar was down at $0.7276, and heading to a loss for the week of 1.9 percent. It was also down a hefty 4.7 percent on the yen and 4 percent on the Swiss franc.
The currency took an added hit on Thursday when a top official at New Zealand's central bank said they were becoming more uncomfortable with the strength of the currency and the market should recognise that. The shift to safety was a boon for Australian government bonds, however, which are among the few in the world with a triple A rating.
The Aussie three-year bond contract climbed 5 ticks to 98.080, while the 10-year contract jumped 8 ticks to 97.4250. Yields on the cash 10-year bond fell to their lowest in five weeks at 2.585 percent. New Zealand government bond yields were as much as 4 basis points lower at the long end of the curve.

Comments

Comments are closed.