Australia, NZ dollars -week lows on powerful greenback

[SYDNEY] The Australian and New Zealand dollars remained on course for their second straight weekly loss on extensive greenback strength, near two-month lows on Friday.
Bonds were also under pressure as anticipations of a US rate rise next week battered on Treasuries. Returns on Australian 10-year paper soared to their highest since late 2015 at 2.98 per cent, up 24 basis points in only two weeks.
The Australian dollar held at US$0.7519, up 0.24 per cent, after touching a trough of US$0.7491 overnight. It was on course to drop one per cent for the week.
After increasing in the initial two months of 2017, the Aussie has dropped 1.8 per cent in March, mainly due to a resurgent US dollar.

The New Zealand dollar, which dropped the previous seven sessions, edged 0.25 per cent higher to US$0.6909. It was set to post a 2 per cent loss for the week.

The kiwi has had a particularly trying down about 4 per cent.
In contrast, the US dollar has increased 0.8 per cent against a basket of international monies as markets priced in a US Federal Reserve rate increase at its March 14-15 assembly.
“Since the local close yesterday, the NZD has been trading in a tight range across the US$0.69 mark… the fact that the money has spent the last 12 hours without dropping feels like a ‘triumph’,” Bank of New Zealand currency strategist Jason Wong said in a research note.
After a fortnightly dairy farm auction revealed milk costs had endured significant losses, raising doubts about a restoration in the nation ‘s No 1 export the kiwi took a hit.
Making data and soft sales during the week caused down impetus.
Investors expect US jobs data expected later on Friday next week, which should bolster expectations of a Fed increase.
Marketplaces are pricing in more than a 90 per cent probability of a rise after a robust private US jobs report.
New Zealand government bonds facilitated, sending returns four basis points higher.
Australian government bond futures fell also, together with the three-year bond contract down three ticks at 97.815. The 10-year contract was off 4.25 ticks at 96.9975