The Australian and New Zealand dollars held their ground against the greenback on Thursday but were trapped in a slim trading range ahead of a four-day long Easter weekend and key event risks next week. Australian consumer inflation data on Wednesday and an interest rate decision by the Reserve Bank of New Zealand (RBNZ) on Thursday could well shape the short-term outlook for both currencies.
The Aussie last stood at $0.9377, having drifted between $0.9364 and $0.9390 so far. Likewise, the kiwi traded in a thin $0.8620 and $0.8649 range after bouncing back from the 10-day low of $0.8578 hit overnight. Against the kiwi, the Aussie was steady at NZ$1.0862. It briefly popped above NZ$1.0900 for the first time in over two months on Wednesday after soft New Zealand inflation data and a fall in dairy prices knocked the kiwi broadly lower.