The Australian dollar hit a five-week low on the yen on Tuesday after breaking a technical level that triggered some stop-loss selling, while investors waited for data on US home sales. The Aussie dollar was soft at 75.46 yen after falling as far as 75.19, a level last seen on July 20. Some stop-loss selling had kicked in after the Aussie fell past its August 20 low of 75.43, dragged in part by a firmer yen as investors tested Tokyo's resolve to weaken the super-strong currency.
The yen hit a nine-year peak on the euro on Tuesday and is within sight of a 15-year high against the US dollar. The NZ dollar drifted lower, to $0.7038 from opening levels of about $0.7060. It was trapped in a tight range between $0.7031 and $0.7070. The kiwi has fallen about 3 percent this month. The kiwi also remained weak around 59.65 yen, after hitting a seven week low of 59.62 yen earlier as support for risky trades dimmed.
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