Australia, New Zealand dollars buoyed by risk-on mood

The Australian and New Zealand dollars were firmer on Tuesday, as investor sentiment turned positive amidst renewed optimism that China will continue to underpin growth in the region. The Aussie rose 0.3% against the greenback to $0.7705 , loitering below the $0.78 resistance level at which it has traded the last three sessions. The kiwi dollar was also higher at $0.7134, but remained under the $0.72 resistance level it set on Friday. Both the kiwi and the Aussie, liquid proxies for risk, have been tracking commodity prices, analysts said. “Clearer signs that the A$ is topping can be seen in recent price action … (full story)

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