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  • Dec 14th, 2012
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The Australian and New Zealand dollars held close to multi-month highs against the greenback and the yen on Thursday in the wake of surprisingly aggressive stimulus steps by the Federal Reserve, and on expectations that Japan will follow soon.

The Aussie was firm at $1.0548, having climbed to a three-month high of $1.0585 in early trade. It briefly pierced key barriers at $1.0560, which prompted a wave of short-covering coupled with fresh long positions.

The kiwi, which was anchored at $0.8440, was supported in the near term around $0.8400 with the overnight high the first hurdle ahead of the year's top at $0.8471. The Aussie dollar climbed to a nine-month high of 88.05 yen to last trade at 87.97. Major resistance was found at the year peak of 88.62, ahead of a 20-month high of 90 yen. The kiwi did even better, surging 0.5 percent to a four-year high of 70.62 yen.

Copyright Reuters, 2012


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