July 22, 2011 / 10:22 AM / 6 years ago

NZD hits 30-year high, vs U.S. dollar, Aussie rallies

LONDON, July 22 (Reuters) - The New Zealand dollar hit a 30-year high versus the U.S. dollar on Friday as improving risk demand pushed the New Zealand currency through a key barrier level, while the Australian dollar rallied to its highest in two months versus its U.S. counterpart.

The New Zealand dollar rose 0.4 percent on the day to US$0.8664. Traders said the kiwi extended gains after breaking through barriers at US$0.8650.

The Australian dollar tracked the New Zealand currency higher, climbing 0.2 percent to US$1.0866, its strongest since mid-May. Market participants cited the selling of put options in the Australian currency as pushing the spot price higher, while interest to sell around US$1.0880 was expected to cap further gains. (Reporting by London Forex Team)

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