The Australian and New Zealand dollars nursed losses against their US counterpart on Monday, weighed by uncertainty over China after the world's second biggest economy posted a shocking trade deficit. The Australian dollar shed around third of a cent to $1.0526, versus $1.0567 in New York late Friday, having fallen through the Ichimoku cloud top at $1.0545.
Traders cited selling from macro-funds, with talk of buying interest all the way down to $1.0500. The New Zealand dollar slipped to $0.8177, from $0.8210 in NY on Friday as investors grew cautious on risky assets and dairy giant Fonterra lowered its payout forecasts to the country's farmers. Weak stocks in China, Hong Kong and South Korea as well a sharp drop in the yuan/USD also pushed the Aussie down.