Australian and New Zealand dollars slip

14 May, 2011

The Australian and New Zealand dollars slipped against the euro on Friday after upbeat growth data from France and Germany gave the common currency a bit of a lift. The euro rose 0.1 percent to A$1.3360, well off this week's 5-month trough of A$1.3220. But it was still down 0.4 percent on the week. The single currency edged up to NZ$1.7904, pulling off a 4-month low at around NZ$1.7828. On the week though, it was down 1.5 percent.
The Australian dollar drifted up 0.1 percent to $1.0670 and has regained most of the ground lost in the wake of Thursday's surprisingly weak jobs data, which pushed the currency one cent lower. The New Zealand dollar edged up to $0.7954 reversing earlier losses, but remained below a key barrier at $0.8000.

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