The Australian and New Zealand dollars drifted higher against the greenback on Wednesday, heartened by a modest recovery in the euro as a negative reaction to overnight news of Portugal's credit downgrade fizzled out. The Aussie dollar rose as high as $1.0734, from $1.0687 late in New York, after stops around $1.0715 were taken out. It last traded at $1.0723.
It also recovered most of Tuesday's losses against the kiwi, rising to NZ$1.2935 from this week's trough of NZ$1.2861. The New Zealand dollar traded at $0.8284, up from $0.8234 in New York. The kiwi has support from $0.8233, while resistance starts at $0.8306, ahead of $0.8332.