FXstreet.com (San Francisco) - The Australian and New Zealand dollars have shed all of their intraday gains against the greenback this Friday on the back of profit-taking heading into the weekend.
Also weighing on sentiment and boosting demand for the perceived safety of the dollar are looming “fiscal cliff” concerns, as lawmakers on Capitol Hill today have suspended negotiations and are in recess until after the 2012 presidential and congressional elections.
AUD/USD has recently fallen back into the 1.0450 price zone from an earlier high of 1.0517 where the 23.6% retracement level of the advance from 1.0163 to 1.0622 limited gains; the pair is poised to end the week with a 0.9% loss at current levels. NZD/USD has also retreated from its daily high to levels back below the 0.8300 figure after peaking at 0.8335 (5-day high), last at 0.8290.
Also weighing on sentiment and boosting demand for the perceived safety of the dollar are looming “fiscal cliff” concerns, as lawmakers on Capitol Hill today have suspended negotiations and are in recess until after the 2012 presidential and congressional elections.
AUD/USD has recently fallen back into the 1.0450 price zone from an earlier high of 1.0517 where the 23.6% retracement level of the advance from 1.0163 to 1.0622 limited gains; the pair is poised to end the week with a 0.9% loss at current levels. NZD/USD has also retreated from its daily high to levels back below the 0.8300 figure after peaking at 0.8335 (5-day high), last at 0.8290.
