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Australia, NZ dollars hard hit by Brexit jitters

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The Australian and New Zealand dollars were under heavy pressure Friday as investors watched results roll in from Britain.

[WELLINGTON] The Australian and New Zealand dollars were under heavy pressure Friday as investors watched results roll in from Britain.

Financial markets across Asia were roiled as partial voting returns suggested Britain was on the brink of leaving the European Union, threatening the existence of the entire bloc and its single currency.

The Australian dollar was down 3.0 per cent at 0.7387 while the New Zealand dollar was down 2.5 per cent at 0.7052.

New Zealand government bonds gained with yields down 14 basis points at the short end and down 19.5 at the long end.

Australian government bond futures rallied, with the three-year bond contract up 15 ticks at 98.490.

REUTERS

For more coverage of the EU referendum, visit bt.sg/BrexiT

 

 

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