Australia, NZ dollars join bond rout as markets price for multiple hikes

The Australian and New Zealand dollars fell on Thursday as markets rushed to price in ever more U.S. rate hikes, battering bonds and sending short-term yields to their highest in almost three years.
 

The Aussie was stuck at $0.7094, having shed 0.5% overnight to test the recent two-month trough of $0.7090.
 

Strong resistance stands around $0.7180, while support lies at $0.7083 and the December low of $0.6994.
 

The kiwi dollar was down at $0.6635, having also lost 0.5% overnight to its lowest since late 2020. This would be its sixth session of losses and the next major bear target is