SYDNEY/WELLINGTON: The New Zealand dollar held near two-week lows on Monday while its Australian cousin steadied after four sessions of losses as the greenback finally found some favour from an upbeat US jobs report.

The New Zealand dollar slipped 0.3 percent to $0.7395, just above last week’s trough of $0.7392 - the lowest point since July 21.

The kiwi is still up more than 10 percent in the past three months - a worry for the Reserve Bank of New Zealand (RBNZ) which is all but certain to leave cash rates at a record low 1.75 percent on Thursday.

The RBNZ slashed rates three times last year by a total 75 basis points in an attempt to boost consumer prices.

There are growing expectations the RBNZ will attempt to “jawbone” the currency following last month’s news of slower-than-expected second quarter inflation.

The antipodean currencies have soared since June on broad US dollar weakness as a series of poor US indicators added to uncertainty about the Federal Reserve’s plan to start shrinking its balance sheet.

The Australian dollar stood at $0.7942. The Aussie has climbed over 7 percent in just two months but ran into stiff chart resistance atop $0.8000 late in July and has since struggled around that barrier.

The Reserve Bank of Australia last week warned that further gains in the currency would threaten its outlook for growth and inflation, although it felt current levels were not a major threat.

Australian government bond futures slipped, with the three-year bond contract down 1 tick at 98.060. The 10-year contract fell 3.5 ticks to 97.3450.

New Zealand government bonds eased, sending yields 2.5 basis points higher at the long end of the curve.—Reuters