The Aussie and New Zealand dollars leapt against the greenback on Thursday, underpinned by a commodity rally and a very strong outlook for Australian business investment, keeping upward pressure on interest rates. The Australian dollar gained three quarters of a cent to $1.0602, before steadying at around $1.0590, having bounced off a one-month low of $1.0440. Support is seen at $1.0510 with resistance at $1.0610, ahead of a strong barrier at $1.0716.
Indeed, the kiwi jumped more than one percent to a four-week high of $0.8076 from $0.7970 in early trade. Support is seen at $0.8017 and resistance at $0.8083. The Aussie dropped sharply to its lowest in three-month at NZ$1.3112 from NZ$1.3213 against the kiwi, after a report by financial website interest.co.nz said China has earmarked NZ$6 billion for investing in a range of New Zealand assets.