WELLINGTON: The Australian and New Zealand dollars popped higher on Monday, having proved resilient to another set of disappointing data out of China, with markets awaiting to see whether the Federal Reserve will finally start hiking rates later this week.
The Australian dollar rose to a two-week peak of $0.7136, from $0.7080 late on Friday, pulling well away from a 6-1/2-year of under 69 cents touched last week.
It had already gained 2.6 percent last week, the largest such increase in two years and was last at $0.7117.
Dealers said the Aussie gained momentum after stops above 71 cents were triggered. Resistance was found at $0.7165, the 50 percent retracement of the $0.6892-$0.7440 move.
