Australian and New Zealand dollars fall

The Australian and New Zealand dollars fell steadily against the yen on Tuesday as investors, undeterred by the Bank of Japan's recent policy easing, resumed bets on a rising Japanese currency. Weak Asian stocks further dented demand for the pair, overshadowing upbeat economic data from Australia. The New Zealand dollar took an additional hit from news that a small New Zealand lender had failed.
Against the yen, the Australian dollar fell to 75.06, from 76.37 seen here late Monday. The New Zealand dollar dropped to 58.95, from Monday's 60.43. The New Zealand dollar retreated to $0.7020, from $0.7105 late on Monday and opening levels about $0.7080.