Aussie Dollar Extends Winning Streak as Kiwi Gains Ground

The Australian dollar is poised to mark its longest weekly winning streak since 2020, rising 0.3% to $0.7134 and adding to its weekly gain of 0.7%. This would be the eighth consecutive week of gains for the Aussie, with it now up nearly 4% from its June low.

Bulls are targeting former tops of $0.7200 and $0.7277, while the kiwi dollar gained 0.4% to $0.5968, its highest level in nearly 12 weeks.

However, yields on US Treasuries resumed their climb overnight after Wednesday's surprise intervention by Treasury, which barely provided a day of relief from selling. The greenback has nursed broad losses for the week amid growing worries over US debt and policy uncertainties.