By Cecile Lefort and Gyles Beckford. SYDNEY/ WELLINGTON, March 15- The Australian dollar closed in on the 100 yen level Friday as recent upbeat data lessened the risk of further rate cuts at home even as a change of guard at the Bank of Japan heralded a new age of quantitative easing for the Asian giant.
SYDNEY/ WELLINGTON, March 15- The Australian dollar was within a whisker of reaching 100 yen on Friday as the new heads of the Bank of Japan finally won approval, while the New Zealand currency nursed a grudge against its own dovish-sounding central bank. A break of the psychological 100 yen barrier would open the way to the 2008 peak above 104..
SYDNEY/ WELLINGTON, March 15- The New Zealand dollar bounced back while the Australian dollar held firm on the greenback on Friday, helped by improving risk sentiment after Wall Street posted further gains and data pointed to a brighter U.S. economy. *NZ dollar pushed up to a session high of $0.8234 in NY trade, from $0.8180 in late local trade on Thursday.
The Dow Jones average hit a record high on Tuesday. Such risk-on appetite has traditionally had a negative correlation for safe-haven currencies such as the dollar. But Ian Stannard, FX strategist at Morgan Stanley believes things will be different for the greenback this time, with global currency market dynamics changing quite rapidly.