Kiwi and Aussie hit the one-week high but retreat later

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Source: Bloomberg
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The New Zealand and Australian Dollars reached the week record high against their US peer after European Finance Ministers reached an agreement how to extend EFSF bailout firepower and said to provide more details on December 9. However, both currencies offset gains as Asian stock markets escalated a drop. Kiwi fell from $0.7610 to $0. 7606 while Aussie dropped to $0.9978 after hitting $1.0087. NZD/USD currently is trading at $0.7587 while AUD/USD is trading at $0.9970.

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Wed, 30 Nov 2011 08:46:37 GMT

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