(Action Economics) - 11-Jan-12 05:19 - AUD and NZD drifted lower, which went against the grain of Asian sentiment as stocks posted modest gains.

AUD-USD was capped by strong offers over 1.0350 on Tuesday, while talk of good AUD-NZD supply from funds and technical accounts added weight and it traded back to 1.0271 after starting the Asian session around 1.0315.

The cross moved down to 1.2935 after good selling was noted ahead of 1.3000 in early trade, which restricted the downside in NZD-USD and it remained around 0.7940 after edging down to 0.7927 lows.

The EUR crosses remained heavy, with EUD-AUD around 1.2375 versus yesterday's record lows just in front of 1.2350, while EUR-NZD registered new lows of 1.6034, leaving it around 8% lower over the past month, according to Reuters analysis.

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