The Australian and New Zealand dollars were nursing losses on Thursday as concerns about China's economic strength crept back in focus with markets awaiting a preliminary private survey on Chinese manufacturing activity. The Aussie found a tentative footing at $0.9638, having fallen 1.4 percent from a 4-1/2-month peak of $0.9758 on Wednesday. It was harder hit against the safe-haven yen, skidding nearly 2 percent to a trough of 93.39.
Support for the Aussie was seen at the 10-day moving average of $0.9595, with resistance around $0.9665. The New Zealand dollar traded around $0.8415, finding its footing after stumbling 1.4 percent the previous day to a one-week low of $0.8358. It stood at 82.00 yen, not far from a trough around 81.30 yen hit on Wednesday, when it tumbled more than 2 percent to suffer its worst daily performance against the safe-haven yen since June.
Comments
Comments are closed.