SYDNEY/WELLINGTON, Dec 12 (Reuters) - The Australian and New Zealand dollars held near multi-month highs on the greenback and the yen on Wednesday as hopes for a fresh round of U.S. stimulus and stronger German data boosted risk sentiment.

* Aussie around $1.0525, after gaining as much as 0.5 pct to $1.0533, the best since Sept 17. It looks a bit stretched on the chart, with upper Bollinger Band at $1.0530 capping the upside and support lined up around Tuesday's low of $1.0485.

* Aussie also supported as iron-ore prices rise 1.2 pct, having chalked up gains of 8 pct this month. The sharp rebound in Australia's top export commodity has supported the currency haunted by worries over a slowing Chinese economy.

* NZ dollar at $0.8383 early, having hit a 9-month high of $0.8393 overnight. Kiwi up 2 pct this month, outshining Aussie's one pct gain.

* Kiwi may push for this year's high of $0.8471 struck in late February, after breaking through key resistance at $0.8360 as latest data point to improving Q4.

* Tuesday's housing and partial retail sales data suggest that NZ recovery likely picking up in Q4 after brief weakness in the third quarter. Dairy exporter Fonterra this week raised its payout forecast to farmers, and saying it expected dairy prices to rise in the coming months.

* Improving NZ data also sends the Aussie to a six-week low of NZ$1.2548 on the kiwi. The pair looks set to break early Nov low of NZ$1.2495. It is down more than 2 pct since hitting a two-month high of NZ$1.2831 in mid-November.

* Aussie and kiwi hold near 8-month peaks against the yen , while stronger German ZEW sentiment data helps the euro recover, including against the Antipodeans.

* Risk sentiment also lifted on optimism over U.S. fiscal talks, and expectations that the U.S. central bank will launch a new round of economic stimulus.

* Firmer Wall Street, powered by Apple, and a 0.2 pct gain in the Thomson Reuters-Jefferies CRB index also help.

* No major data due in NZ and Australia, but Reserve Bank of Australia (RBA) Governor Glenn Stevens gives a speech in Thailand at 0430 GMT.

* Australian government bond futures lower, tracking Treasuries. The three-year bond contract 0.025 points lower at 97.370 and the 10-year contract down 0.045 points to 96.910.

* NZ government bonds also softer, sending yields about one basis point higher.

Keywords: MARKETS AUSTRALIA NEWZEALAND/FOREX

(Australia/New Zealand bureaux)(+61 2 9373 1800/+64 4 802 7980)(Reuters Messaging: mantik.kusjanto.thomsonreuters.com@reuters.net)

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