Forex News: Antipodean Currencies Fall Amid Risk-Aversion

Antipodean Currencies Fall Amid Risk-Aversion

(RTTNews) - The antipodean currencies such as the Australia and the New Zealand dollars weakened against their major currencies in the Asian session on Friday, as traders remain cautious amid mixed signals from the U.S.-Iran peace talks after news of Lebanese armed group Hezbollah emphatically rejecting the terms of a U.S.-backed ceasefire between Israel and Lebanon and said it would not withdraw troops from the country, throwing the future of the wider Middle East truce into an abyss.

Meanwhile, U.S. President Donald Trump announced that final negotiations are underway to end the war in Iran, though Iran's foreign minister earlier indicated that talks had stalled.

An AI-driven rally that boosted stocks earlier this week fizzled out after chip giant Broadcom's AI revenue projection fell short of expectations, also kept regional markets under pressure.

Hezbollah rejected the latest ceasefire agreement between Israel and the Lebanese government, saying the "imaginary ceasefire" would amount to "a surrender, defeat and achieving the enemy's goals."

Elsewhere, Israeli ministers refrained from approving the proposed ceasefire arrangement during a security cabinet meeting.

"Hezbollah opposes it, and therefore I am not bringing it for a decision. If it agrees, I will bring it for your approval," Prime Minister Benjamin Netanyahu told ministers.

In the Asian trading today, the Australian dollar fell to more than a 2-week low of 1.6340 against the euro and a 4-day low of 0.9885 against the Canadian dollar, from yesterday's closing values of 1.6340 and 0.9917, respectively. If the aussie extends its downtrend, it is likely to find support around 1.64 against the euro and 0.90 against the loonie.

Against the U.S. dollar and the yen, the aussie dropped to 8-day lows of 0.7106 and 113.65 from Thursday's closing quotes of 0.7131 and 114.08, respectively. The aussie may test support near 0.70 against the greenback and 111.00 against the yen.

The aussie edged down to 1.2138 against the NZ dollar, from yesterday's closing value of 1.2150. The next possible downside target for the aussie is seen around the 1.98 region.

The NZ dollar fell to 9-day lows of 0.5851 against the U.S. dollar and 1.9843 against the euro, from Thursday's closing quotes of 0.5868 and 1.9786, respectively. If the kiwi extends its downtrend, it is likely to find support around 0.57 against the greenback and 2.04 against the euro.

Against the yen, the kiwi dropped to an 8-day low of 93.59 from yesterday's closing value of 93.90. The kiwi may test support near the 91.00 region.

Looking ahead, Canada and U.S. jobs data for May, U.S. used car prices for May, Canada Ivey PMI data for May, U.S. weekly Baker Hughes oil rig count data and U.S. consumer credit change for April are slated for release.

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