___AUSTRALIAN CREDIT/FOREX SNAPSHOT__________________
FOREIGN EXCHANGE AT 0200 GMT (against previous Sydney close) 0.8068/69 (0.7989/92) 1.2523/40(1.2459/71) 77.27/34 (76.91/97) 95.80/82 (96.26/28) 0.5743/46 (0.5721/24) 1.4043/45(1.3964/68)
DEBT FUTURES CASH YIELDS
90-DAY BILL (SEP) 96.74 (-0.01) 3.24(3.24)3-YR BOND (SEP) 95.14 (+0.05) 4.67(4.72)10-YR BOND (SEP) 94.425 (+0.10) 5.71(5.81)3/10 SPREAD +0.715 (+0.765) AUST/US 10-YR SPREAD +213(+210)S&P/ASX 200 3905.8 (3856.0) US10-YR 3.58(3.71)----------------------------June 26-----------------------------
AUSSIE FIRMED ON FRIDAY AS HIGHER ASIAN STOCK markets gave it a lift, while its strength against the yen and New Zealand dollar offered support as well.
AUSSIE SHOT UP AGAINST THE KIWI DOLLAR AFTER DATA SHOWED New Zealand's economy shrank 1 percent in the first quarter, stirring speculation the Reserve Bank of New Zealand may cut interest rates further from a record low of 2.5 percent.
STILL, MANY ANALYSTS THINK THE RBNZ IS RELUCTANT TO CUT rates much further because Kiwi rates need to be high enough to attract investors and fund the country's current account deficit.
AUSSIE CHARGED TO AS HIGH AS NZ$1.2537, FROM NZ$1.2479 seen here late Thursday.
LOCAL DOLLAR ALSO EDGED UP ON THE YEN TO 77.27, from Thursday's 76.91 yen, helped by expectations that launch of new investment funds in Japan will fuel more selling of the yen.
AUSSIE GAINED TO $0.8071, FROM THURSDAY'S $0.7989, AND A low of $0.7787 earlier in the week.
SOME TALK THE RESERVE BANK OF AUSTRALIA (RBA) MAY HAVE BEEN selling the Aussie above 80 cents. It sold a hefty A$1.4 billion of Aussie last month to rebuild reserves.
AUSTRALIAN BOND FUTURES PARED EARLIER GAINS AS TREASURIES fell in Asian trade after jumping overnight on strong demand for new seven-year notes.
THREE-YEAR BOND FUTURES ROSE 0.04 POINTS AT 95.13, while ten-year bond futures gained 0.07 point to 94.395.
THE GAINS IN BOND FUTURES PULLED CASH YIELDS FROM multi-month highs. Three-year yields eased to 4.68 percent, from an eight-month high of 4.72 percent hit Thursday.
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