The New Zealand and Australian dollars surged on Tuesday as a dearth of progress in US debt talks led investors to dump the greenback across the board and flock to currencies backed by stronger economies. The mighty kiwi scaled a fresh 30-year summit of $0.8708, up 0.8 percent on the day, while the Aussie leapt to a three-month peak of $1.0922.
Support for the kiwi is seen from $0.8605 with the first technical resistance level at $0.8728 ahead of $0.88. Across the Tasman sea, the Aussie leapt by almost a full cent and was last trading at $1.0920, up 0.7 percent. Against its kiwi neighbour, the Aussie held firm at around NZ$1.2555.