SYDNEY/WELLINGTON, April 26 (Reuters) - The New Zealand dollar held near all-time peaks on a trade weighted-basis on Friday while the Aussie dollar firmed against its U.S. counterpart, helped by stronger equities and a rally in commodity prices.
* Immediate focus on the Bank of Japan (BOJ)'s policy meeting. No new measures expected given the aggressive easing steps already taken, but special attention on whether the board is confident enough to forecast inflation reaching 2 pct in two years time.
* For now, Aussie & kiwi higher on the yen, closer to five-year peaks hit earlier this month. Aussie at 102.37 yen, having recovered from a low of 100.73 touched Tuesday, while the kiwi trades at 84.52, up 1 pct so far this week.
* Antipodeans have gained at least 13 pct vs the yen this year on speculation the money created by the BOJ will eventually find a home in offshore higher yielding assets, like the Aussie and kiwi govt bonds.
* The kiwi TWI rises to 78.72, having gained 1 pct on Thursday, the largest one-day increase since early Jan. It is closing in on an record peak of 79.39 set earlier this month.
* Currency buoyed by a wider-than-expected trade surplus in March, driven by increased meat and wood exports, as China replaced Australia as the country's top export market for the first time.
* The PBOC on Friday fixed the yuan vs the USD at the highest since 2005, implying Chinese firms have more spending power to afford Australian and NZ exports.
* Kiwi firm at $0.8524, from $0.8510 early, having risen as far as $0.8563 overnight, its highest in nearly two weeks. Support at $0.8450.
* Aussie edges up to $1.0331, from $1.0296 early. Some traders pointed to news Australia's GrainCorp had accepted a revised A$3 bln bid from U.S.-based Archer Daniels Midland, even though the deal will not be settled for months yet.
* Immediate resistance at $1.0330/35 where traders cite offers and then $1.0350. Aussie set to post a 0.5 pct gain for the week.
* Aussie nursing heavy losses against the kiwi and pound. Last at NZ$1.2100, having gone as far as NZ$1.2079 overnight, its weakest since 2009. Markets narrow the odds for further easing in Australia this year vs tightening in New Zealand late this year or early 2014.
* GDP data in Britain sends the pound to two-month highs vs the Aussie at A$1.5010. Last at A$1.4968.
* Australian government bonds quiet following hefty gains, with the three-year contract steady at 97.380. The 10-year contract a touch lower at 96.810, having shed 0.01 points. Earlier in the week, they both climbed to levels not seen since early December.
* New Zealand government bonds slip, prodding yields 1 basis points higher across the curve.
(Australia and New Zealand bureaux) Keywords: MARKETS AUSTRALIA NEWZEALAND/FOREX
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