The Australian and New Zealand dollars slid on Monday as persistent concerns about the eurozone debt crisis, a slump in regional stocks and soft commodity prices tempered risk appetite. The Aussie skidded one percent to as low as $1.0545, more than a full cent lower on the day, while the kiwi slipped to $0.7891 from $0.7966 late in New York on Friday.
The Aussie and kiwi were also dragged lower by a broadly weaker euro, following more negative news about Greece's debt woes, and a fall in commodity prices. Across the Tasman, the New Zealand dollar drifted down to $0.7912, against levels of $0.7935, and a three-week high in Friday's offshore trade of $0.8000.
The euro struggled against the Aussie, hovering near a 10-day trough at around A$1.3307 and neared a three-month low versus the kiwi at NZ$1.7757. Risk aversion pushed the greenback higher and triggered a rally in the safe heaven Swissy. This saw the Aussie fall to a two-week low at 0.9294 francs, while the kiwi slipped to 0.6970 francs.