WELLINGTON, April 23 (Reuters) - The New Zealand and Australian dollars hit multi-year highs against the euro on Friday as Greece's ongoing fiscal woes took a turn for the worse.
* The euro fell to a near-one year low against the U.S. dollar after the European Union said Greece's budget deficit was worse than feared and ratings agency Moody's cut the country's rating.
* Spreads between Greek and German bond yields hits the widest in 12 years and the cost of insuring Greek debt from default surged to record highs. For details, see,
* The euro hit a record low of A$1.4468 before clawing back its losses to trade around A$1.4326. Against the New Zealand dollar, it hit NZ$1.8869, the lowest since late February 2008.
* U.S. dollar gains 0.5 percent against the yen to 93.56, hitting session highs after a rebound on Wall Street encourages riskier trades funded by cheap borrowing in the Japanese currency. Dollar also draws support from data showing a fall in U.S. jobless claims and an increase in home sales bolsters hopes the U.S. economy on a steady path to recovery.
* The New Zealand dollar hold around $0.7110 range, after trading between $0.7071 and $0.7140 overnight. Kiwi seen stuck in the familiar $0.7050 to $0.7150 range.
* The Australian dollar resumes a shade softer at $0.9273, having traded between $0.9228 and $0.9300 during the offshore session, and Thursday's late local level of $0.9282. Aussie will find support at $0.9230 but is seen as likely to struggle to hold above $0.9300.
* NZ March migration and tourism arrivals due at 10.45 a.m. (2245 GMT) and credit card billings at 0300 GMT. Australian first quarter export and import price data also due. Reserve Bank of Australia Governor Glenn Stevens speaks at Economic Conditions Forum.
* NZ government debt weaker with prices down and yields up to three basis points higher. NZ bank bill futures contracts a couple of ticks lower.
* Australian three-year bond futures down 0.03 points to 94.54, while the 10-year contract falls 0.032 points to 94.155.
((Wellington newsroom tel +64 4 471-4234, fax +64 4 473-6212
wellington.newsroom@reuters.com)) Keywords: MARKETS AUSTRALIA NEWZEALAND FOREX/BONDS (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* The euro fell to a near-one year low against the U.S. dollar after the European Union said Greece's budget deficit was worse than feared and ratings agency Moody's cut the country's rating.
* Spreads between Greek and German bond yields hits the widest in 12 years and the cost of insuring Greek debt from default surged to record highs. For details, see,
* The euro hit a record low of A$1.4468 before clawing back its losses to trade around A$1.4326. Against the New Zealand dollar, it hit NZ$1.8869, the lowest since late February 2008.
* U.S. dollar gains 0.5 percent against the yen to 93.56, hitting session highs after a rebound on Wall Street encourages riskier trades funded by cheap borrowing in the Japanese currency. Dollar also draws support from data showing a fall in U.S. jobless claims and an increase in home sales bolsters hopes the U.S. economy on a steady path to recovery.
* The New Zealand dollar hold around $0.7110 range, after trading between $0.7071 and $0.7140 overnight. Kiwi seen stuck in the familiar $0.7050 to $0.7150 range.
* The Australian dollar resumes a shade softer at $0.9273, having traded between $0.9228 and $0.9300 during the offshore session, and Thursday's late local level of $0.9282. Aussie will find support at $0.9230 but is seen as likely to struggle to hold above $0.9300.
* NZ March migration and tourism arrivals due at 10.45 a.m. (2245 GMT) and credit card billings at 0300 GMT. Australian first quarter export and import price data also due. Reserve Bank of Australia Governor Glenn Stevens speaks at Economic Conditions Forum.
* NZ government debt weaker with prices down and yields up to three basis points higher. NZ bank bill futures contracts a couple of ticks lower.
* Australian three-year bond futures down 0.03 points to 94.54, while the 10-year contract falls 0.032 points to 94.155.
((Wellington newsroom tel +64 4 471-4234, fax +64 4 473-6212
wellington.newsroom@reuters.com)) Keywords: MARKETS AUSTRALIA NEWZEALAND FOREX/BONDS (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.